US President Joe Biden Signs Long-Awaited Cryptocurrency Ordinance by

© Reuters US Cryptocurrency Ordinance, which is closely adhered to by cryptocurrencies, was signed today by President Joe Biden. In a White House statement, the presidential directive was announced to focus on six key issues in the crypto asset industry.

The presidential directive signed by US President Joe Biden today was a long-awaited development of the crypto market. The focus areas of the presidential decree, considered the first significant step towards cryptocurrency regulation, are consumer protection, financial stability, illegal use, leadership in the global financial industry, financial inclusion, and prudent innovation. am.

In the evening, a statement on related laws and regulations was posted on the official website of the Ministry of Finance and deleted. After seeing this statement in the web archive, cryptocurrencies have increased significantly.

The United States will maintain leadership in the digital asset industry.

The White House said in a statement that the United States maintains technological leadership in the fast-growing digital asset space by supporting innovation while mitigating risks to consumers, businesses, the broader financial system and climate. Said you need to. It was also emphasized that the United States, in line with its global competitiveness, should play a leading role in the international involvement and global management of digital assets.

The presidential directive signed by President Biden focuses on working with other government agencies, especially the Ministry of Finance, to protect all parties in the industry. The Financial Stability Oversight Commission, on the other hand, is expected to contribute to the protection of financial stability in the United States and the world by identifying financial risks and making appropriate policy recommendations, but to mitigate systematic risks. Will be investigated.

Another issue focused on in the presidential directive was stated in the statement to reduce the risks arising from the illegal use of digital assets. While the United States was mentioned to work with its allies and partners, state agencies were said to work together on this issue in ways never before experienced.

It also mentions that the regulatory framework will take an approach to help the United States continue to take leadership in the field of digital assets. With this approach, the United States, unlike its biggest rival, China, seems to have demonstrated its adoption with the intention of becoming a leader in the cryptocurrency space.

The first major decision on the US central bank’s digital currency

Another notable issue in the statement was the acceleration of central bank work on digital currencies. The White House shows positive signs that the Fed’s issuance of the CBDC can be achieved if national interests are agreed on the US CBDC. In this regard, the presidential directive provides an incentive for the Fed to continue its efforts to investigate, develop and evaluate central bank digital currencies.

After this significant development, which is being actively priced by the cryptocurrency industry, (BTC) has risen by nearly 10% from yesterday to the $ 42,500 band.

Author: Gunay Caymaz

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