Biden Will Reportedly Sign Crypto Executive Order

investopedia.com:

President Biden reportedly plans to sign an executive order this week to firm up the U.S. government's approach to cryptocurrencies. Analysts expect the order to provide guidance to multiple federal agencies in investigating possible regulatory changes for cryptocurrencies. The order is also expected to touch on national security and broader economic impacts of cryptocurrencies.

Reports of a potential order seeking to establish a central policy regarding cryptocurrencies previously circulated in January. At that time, reports suggested that federal agencies were assessing risks and opportunities related to digital currencies.

White House officials have so far declined to comment on a cryptocurrency executive order. Still, mounting external pressures suggest that the order may aim to address some issues in particular. First, analysts have raised concerns about the use of cryptocurrencies as a way of evading international financial sanctions such as those that the U.S. and allies levied against Russia following Russia's invasion of Ukraine.

More broadly, industry executives have voiced concerns about a perceived lack of clarity regarding the U.S. government's approach to regulating cryptocurrencies. The executive order is expected to begin to assign roles for government agencies relating to the regulation of crypto tokens. It will also likely require those agencies to provide updated reports about their plans later in 2022.

Additionally, the executive order may address a question that has long loomed over the cryptocurrency sphere: will the U.S. government issue its own central bank digital currency (CBDC)? As a growing number of countries around the world launch their own CBDCs, the question has become increasingly