Joe Biden Grants Bitcoin A New Era With "Blockbuster" Executive Order
The White House has finally spoken on the regulatory future for the crypto verse in the USA. Speak louder, I like this speech!
President Joe Biden’s expected February 2022 executive order on cryptocurrency in the US came a little late — March 9, 2022 — but it was worth the wait.
Instead of an outright ban or accusatory new-Salem Witch Trials vibe, the e.o. struck a surprisingly balanced tone, acknowledging the importance of “digital assets” including cryptocurrency in the American economy of the near future, while also encouraging greater oversight — at a time when now trillions of dollars in value are represented in the crypto economy, with nearly 15 percent of Americans owning some crypto, according to the order.
Biden’s executive order, in conjunction with a note briefly posted then removed from the Treasury Department’s web site, were the shots in the arm Western crypto markets needed to continue driving forward in this new post-pandemic age of semi-restored domestic and international travel… yet, an age of war, too.
As Russia continues to shell Ukraine, anything is possible politically, but at least Bitcoin lives to die another day in these United States.
As someone who isn’t his or his architects’ biggest fan, this is Biden’s greatest leadership moment to date. If crypto is the new dot-com era, the business and economics books of the near future will have a lengthy chapter on this week.