Janet Yellen revealed details of Biden’s executive order on crypto

The document may have been published by mistake and later deleted from the Treasury website, but it remained on the web archives

09.03.2022 - 10:10

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What’s new? US President Joe Biden plans to sign an executive order this week on the government’s strategy for regulating cryptocurrency assets. Cointelegraph reports that US Treasury Secretary Janet Yellen may have inadvertently disclosed details of the executive order. The relevant information about this has been deleted from the ministry’s website but remained on the web archives.

News on the Cointelegraph website

What statements have been made? According to the published details, the Treasury Department calls to support innovation efforts while addressing risks in the industry. The document also directs the Ministry of Justice, Treasury, and others to study the legal and economic implications of the launch of a central bank digital currency (CBDC).

Regarding Joe Biden’s executive order, the material reports that the document contains a coordinated and comprehensive approach to digital asset policy. Yellen’s statement also states that the decree will lead to significant benefits for the nation, consumers and businesses.

“It will also address risks related to illicit finance, protecting consumers and investors, and preventing threats to the financial system and broader economy.”

Janet Yellen reported on the international impact of this decree on the industry. The ministry plans to work with partners at the global level to promote “robust standards and a level playing field.”

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