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.
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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