The President of the United States finally signed a decree on the future of cryptocurrencies.
He puts control over this area on federal agencies and the Treasury.
Decree confirms US plans to issue a digital dollar (CBDC) and a number of other projects.
The White House has published a long-awaited decree on cryptocurrencies. Contrary to fears, there are no controversial or dangerous details.
Briefly, the decree states the following:
- Joe Biden wants to develop blockchain technologies, but it is important for him to protect consumers and businesses.
- To do this, he coordinates the actions of various bodies – the Ministry of Finance, federal services and national security agencies.
- The states have confirmed plans to issue a digital dollar.
- The Ministry of Finance will launch an educational campaign for citizens and businesses on how to use crypto assets safely.
Also, the ministry should prepare a report on the “future of money”.
There are no new regulations or restrictions in the document.
What will happen next
First, the market reacted positively to this law. Now investors have calmed down and exhaled – Biden will not increase control over the crypto industry.
Importantly, the executive order mentions the need to support innovation and also mentions the benefits for the US. Therefore, in the near future, the cryptocurrency market will continue to grow further.
Recall that Ukraine also benefits from this industry. We were lucky: the authorities legalized cryptography just shortly before the war. Thanks to this, the Ministry of Digital Development collects large donations in cryptocurrencies and purchases everything necessary for the army.
Disclaimer: This information is not investment advice. Assess the risks yourself before making any investment decisions.
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