Biden administration pushing for executive order, crypto oversight

The Biden administration is mulling a new executive order on Bitcoin and other cryptocurrencies, for new crypto oversight.

Published Oct 9, 2021 12:30 AM CDT   |   Updated Tue, Nov 2 2021 8:39 PM CDT
0 minutes & 40 seconds read time

Wait for it... the Biden administration is reportedly mulling over an executive order for Bitcoin and cryptocurrencies in general that would push for crypto oversight.

Biden administration pushing for executive order, crypto oversight 911

The news is literally breaking, with Bloomberg reporting: "The Biden administration is weighing an executive order on cryptocurrencies as part of an effort to set up a government-wide approach to the white-hot asset class, according to people familiar with the matter".

The executive order would give the Biden administration and US government and its various agencies, to study and recommend various things in the crypto industry. This would include financial regulation, economic innovation, and even national security. Bloomberg added that their sources "who asked not to be named discussing plans that are still under consideration".

So much for that decentralized goodness of cryptocurrencies, eh? It seems the Biden administration is going to put its big boy regulation boots on, and start kicking down some of those doors in the crypto currency world.

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Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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