Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global
USA crypto policies

Joe Biden signs an executive order calling for crypto policies

by Maluh Bastos
March 10, 2022
in Global
Reading Time: 3 mins read
3k
A A
0
Share on FacebookShare on Twitter

Joe Biden, the 46th President of the United States, signed an Executive Order on cryptocurrencies on March 9th, directing all federal agencies to coordinate a policy for digital assets.

The goal behind Biden’s executive order is to address important matters such as consumer protection and illicit activity, amongst other topics considered. With this initiative, the President summons the government to take a closer look at the risks and benefits of cryptocurrencies. 

You might also like

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
7.5k
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
7.5k

Divided into 10 sections, the text released and signed by Biden endorses the necessities of the fundamental topics as well as the urgent need to develop the government’s own digital asset (also known as CBDC). 

Joe Biden by Photographer: Ting Shen/Bloomberg

Biden’s main crypto policy topics

Crypto enthusiasts and the media are highlighting six topics in the President’s executive order as subjects of vital importance:

They are consumer protection, financial stability, illicit activity, U.S. competitiveness, financial inclusion, and responsible innovation.

In the section about consumer protection, the President states that:

“We must protect the United States and global financial stability and mitigate systemic risk. Some digital asset trading platforms and service providers have grown rapidly in size and complexity and may not be subject to or in compliance with appropriate regulations or supervision”.

Biden emphasizes that “digital asset issuers, exchanges, and trading platforms and intermediaries whose activities may increase risks to financial stability should, as appropriate, be subject to and in compliance with regulatory and supervisory standards that govern traditional market infrastructures and financial firms, in line with the general principle of ‘same business, same risks, same rules.’”

Illicit activities related to crypto-assets were also highlighted as one of the main topics. According to Biden, those risks are considerable and include digital threats such as ransomware and cybercrime, as well as money laundering, narcotics, human trafficking, terrorism, and money laundering. 

For that, Biden said that “the United States must ensure appropriate controls and accountability for current and future digital assets systems to promote high standards for transparency, privacy and security – including through regulatory, governance and technological measures – that counter illicit activity and preserve or enhance the efficacy of our national security tools”. 

Regarding digital innovation, the North-American President stressed the importance of the United States being a leader in technological advancements.

“The United States has an interest in ensuring that digital asset technologies and the digital payments ecosystem are developed, designed and implemented in a responsible manner that includes privacy and security in their architecture, integrates features and controls that defend against illicit exploitation and reduces negative climate impacts and environmental pollution, as may result from some cryptocurrency mining”. 

To read the full extent of the Executive Order, click here. 


Repercussions on Biden’s text

The market received Biden’s decision with optimism and the rapid growth of Bitcoin this Wednesday portrays that. 

According to Coin Metrics, BTC was trading at $42,284, about 9% higher. ETH and other crypto felt the effect as well.

For many, this position adopted by Joe Biden signals a promising future for cryptocurrencies around the world. The United States, evidently, represents a great and powerful force in the market in general worldwide. 

Once the country regulates and takes a stand on the crypto matter, it could be a green light to other countries to feel also safe and more confident to do the same. Also, the future and possible regulations can be seen as examples of what is to come for other nationalities. 

Advertisement Advertisement
Previous Post

How secure is the Bitcoin Blockchain?

Next Post

How to choose the best crypto wallet

Maluh Bastos

Maluh Bastos

Journalist, content writer and producer - and DJ in spare times - always looking to make some noise in the world. Crypto and blockchain writer, eager to learn more every day and hoping to contribute to Klever's mission to change people's lives through financial freedom.

Related Stories

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

by Klever
February 22, 2023
0
7.5k

We are excited to announce that Klever has recently joined the Web3 Domain Alliance, a group dedicated to promoting the...

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

by Isabela Bellumat
February 14, 2023
0
7.5k

With so many options available, it can be difficult to determine which wallet is the best choice for your digital...

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

by Warren Manuel
February 10, 2023
0
7.3k

Imagine a world where businesses and organizations operate with complete transparency, security, and autonomy. A world where intermediaries and central...

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

by Warren Manuel
February 9, 2023
0
7.3k

Investment and financial management have come a long way in the digital age. With the advent of Artificial Intelligence (AI),...

Next Post

How to choose the best crypto wallet

Women in crypto are a force to be reckoned with

Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.6k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8394 shares
    Share 3358 Tweet 2099
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7053 shares
    Share 2821 Tweet 1763
  • Bitcoin battles back from record losses to $21,000

    5916 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5361 shares
    Share 2144 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5075 shares
    Share 2030 Tweet 1269

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version