The long-awaited — and much-feared — crypto executive order is finally here. Covered: Crypto Executive Order News Lifts Bitcoin And Ethereum Russian Sanctions And The Crypto Executive Order SBF’s Thoughts Crypto Executive Order News Lifts Bitcoin And Ethereum With any luck, you’ll be completely boxed out of meaningful input as your personal goals have nothing […] The post Joe Biden Announces Crypto Executive Order; Bitcoin, Ethereum Rebound appeared first on CryptosRus.

Joe Biden Announces Crypto Executive Order; Bitcoin, Ethereum Rebound

The long-awaited — and much-feared — crypto executive order is finally here.

Covered:

  • Crypto Executive Order News Lifts Bitcoin And Ethereum
  • Russian Sanctions And The Crypto Executive Order
  • SBF’s Thoughts

Crypto Executive Order News Lifts Bitcoin And Ethereum

According to SEC chair Gary Gensler, U.S. president Joe Biden signed a crypto executive order today that will direct government agencies’s approach to the sector.

According to a fact sheet released by the White House, the order outlines, the “whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology.”

Moreover, the order features six priorities:

  • Consumer and investor protection
  • Financial stability
  • Illicit finance
  • U.S. leadership in the global financial system and economic competitiveness
  • Financial inclusion
  • Responsible innovation

A part of the bill was “leaked” late last night. The news sent Bitcoin and Ethereum back up again after they’ve languished this month. Bitcoin is up 8% the last 24 hours, putting it at  $42,000 USD. While Ethereum is up 5% in the same time frame, and currently trading in the $2735 range.

Russian Sanctions And The Crypto Executive Order

The other day, the bill was rumored to be focused around Russian sanctions — which sent privacy coins skyrocketing.  However, within the White House fact sheet there are no specific mentions of sanctions or Russia. It does discuss illicit finance, but largely the order appears to be focused around the U.S.’s relationship with cryptocurrency.

On U.S. leadership in crypto worldwide, the order specifically directs the Department of Commerce to facilitate upcoming regulation across the U.S. government that will, “drive U.S. competitiveness and leadership in, and leveraging of digital asset technologies.”

Overall, industry sentiment appears positive. One of the Winklevi “applauded” the approach from Joe Biden and co., while Sam Bankman-Fried called it “constructive.” Notably, Bankman-Fried is a major Biden donor.

Though, Ryan Selkis of Messari had some not so nice things to say about Gary Gensler: “With any luck, you’ll be completely boxed out of meaningful input as your personal goals have nothing to do with investor protection, market stability or blocking illicit activity.”

 

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