US Government drafts a Unified Crypto Oversight Plan

The Joe Biden administration has issued an executive order that could create a unified approach around crypto regulation.

As reported by Bloomberg, the executive order will require federal agencies to study key areas of the cryptocurrency industry and create recommendations. The order concentrates on various bureaucracies such as financial regulation, national security, and economic innovation.

This new order will necessitate departments that had earlier overlooked cryptocurrency to shift their focus to the new revolution. Presumably, also, the White House could appoint a ‘crypto czar’ to supervise each step.

So far, the state of the order is still unclear, and we don’t know whether the order will be released altogether. Either way, Joe Biden’s administration must issue an overall crypto strategy regardless of how the executive order pans out.

The White House has not released an official comment on this news. The insights mentioned above are purely from Bloomberg, and their source remains anonymous.

https://mycryptoparadise.com/us-government-drafts-a-unified-crypto-oversight-plan/

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