{"id":400247,"date":"2022-01-28T05:06:52","date_gmt":"2022-01-28T02:06:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/white-house-reportedly-preparing-executive-order-on-crypto\/"},"modified":"2022-01-28T05:06:52","modified_gmt":"2022-01-28T02:06:52","slug":"white-house-reportedly-preparing-executive-order-on-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/white-house-reportedly-preparing-executive-order-on-crypto\/","title":{"rendered":"# White House reportedly preparing executive order on crypto"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f2eff7e52d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f2eff7e52d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/white-house-reportedly-preparing-executive-order-on-crypto\/#Broader_crackdown\" >Broader crackdown<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># White House reportedly preparing executive order on crypto <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvYWU1MGRlYTgtZDc0Ni00ZmQ0LTk1ZGEtMjRhODJiMDIzYTkxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Joe Biden\u2019s White House is expected to issue an executive order in the coming weeks about actions the U.S. government will take regarding digital assets.<\/p>\n<p>A source \u201cfamiliar with the White House\u2019s plan\u201d told <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.barrons.com\/articles\/white-house-executive-action-regulate-cryptos-national-security-51643312454\">Barron\u2019s<\/a> that the executive order would be issued in a national security memorandum. Biden\u2019s memorandum would assign some government entities to study crypto, stablecoins, and nonfungible tokens (NFT) with the goal of developing a workable regulatory framework.<\/p>\n<p>The source was quoted as saying: <\/p>\n<blockquote><p>\u201cThis is designed to look holistically at digital assets and develop a set of policies that give coherency to what the government is trying to do in this space.\u201d<\/p><\/blockquote>\n<p>Rumors of a potential executive order on crypto have been swirling in recent days. Earlier this week <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/billybambrough\/2022\/01\/25\/crypto-crash-market-now-braced-for-a-game-changing-white-house-executive-order-as-price-of-bitcoin-and-ethereum-collapse\/?sh=14d7fea6848e\">Forbes<\/a> reported those government entities would likely issue reports on their findings by mid-2022\u00a0 looking at \u201cthe systemic risks of cryptocurrencies and their illicit uses.\u201d<\/p>\n<p>The rationale for the executive order falling under national security is that crypto is a cross border tool for shifting money. The ability of decentralized blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> to circumvent geo-specific surveillance or rules means the administration may push for synchronized international regulations with other countries.<\/p>\n<p>Senior ETF analyst at Bloomberg Eric Balchunas noted earlier today that the Biden Administration viewing crypto as a national security threat may also be behind the constant rejections of Bitcoin (BTC) spot ETFs. <\/p>\n<p>He also referred to the new developments as a \u201cbroader crypto crackdown\u201d in a Jan. 28 tweet.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Broader_crackdown\"><\/span>Broader crackdown<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Another piece of legislation worrying the crypto industry was proposed by House Democrats on Jan. 25, the America COMPETES <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/rules.house.gov\/sites\/democrats.rules.house.gov\/files\/BILLS-117HR4521RH-RCP117-31.pdf\">Act<\/a>. Jerry Brito, the Executive Director for Washington D.C.-based think tank Coin Center, noted that one provision in the proposed bill would allow the Treasury Secretary to ban crypto exchanges from operating without any prior notice. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">2\/ The so-called &#8220;special measures&#8221; provision  (proposed by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jahimes?ref_src=twsrc%5Etfw\">@jahimes<\/a>) would essentially give the Treasury Secretary unchecked and unilateral power to ban exchanges and other financial institutions from engaging in cryptocurrency transactions. How would it do this? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/f3tVow9nxA\">pic.twitter.com\/f3tVow9nxA<\/a><\/p>\n<p>\u2014 Jerry Brito (@jerrybrito) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jerrybrito\/status\/1486349105433620486?ref_src=twsrc%5Etfw\">January 26, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Brito said that he believes the bill is likely to pass \u201cin some form.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>President Biden taps economists for Fed governors\u2019 seats, Sarah Bloom Raskin as vice chair for supervision<\/em><\/strong><\/p>\n<p>Meanwhile supporters among lawmakers are trying to smooth off the rougher edges of already passed legislation. Echoing pleas from crypto industry experts, a bipartisan group of House Representatives has asked Biden-nominated Treasury Secretary Janet Yellen to clarify aspects of the Infrastructure Bill that pertain to digital assets. The Infrastructure Bill was signed into law last November amid some controversy as its definition of a \u2018broker\u2019 is arguably too broad by including miners, software developers, transaction validators and node operators.<\/p>\n<p>The group of bipartisan lawmakers proposed on Jan. 26 to narrow the scope of what information a broker can obtain to prevent creating an \u201cun-level playing field for transactions in digital assets and those required to provide them.\u201d Some brokers, as they are currently defined in the bill, do not have the ability to verify information about senders and receivers of crypto as required by law. Yellen has yet to respond to this request.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/white-house-reportedly-preparing-executive-order-on-crypto\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# White House reportedly preparing executive order on crypto &#8221; Joe Biden\u2019s White House is expected to issue an executive order in the coming weeks about actions the U.S. government will take regarding digital assets. A source \u201cfamiliar with the White House\u2019s plan\u201d told Barron\u2019s that the executive order would be issued in a national&#8230;<\/p>\n","protected":false},"author":1,"featured_media":400248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvYWU1MGRlYTgtZDc0Ni00ZmQ0LTk1ZGEtMjRhODJiMDIzYTkxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,77189,70934],"class_list":["post-400247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-policies","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/400247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=400247"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/400247\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/400248"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=400247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=400247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=400247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}