{"id":414112,"date":"2022-03-10T00:45:00","date_gmt":"2022-03-09T21:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/regulators-and-industry-leaders-react-to-bidens-executive-order-on-crypto\/"},"modified":"2022-03-10T00:45:00","modified_gmt":"2022-03-09T21:45:00","slug":"regulators-and-industry-leaders-react-to-bidens-executive-order-on-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/regulators-and-industry-leaders-react-to-bidens-executive-order-on-crypto\/","title":{"rendered":"# Regulators and industry leaders react to Biden\u2018s executive order on crypto"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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-6a34d442177a0\" 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-6a34d442177a0\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/regulators-and-industry-leaders-react-to-bidens-executive-order-on-crypto\/#%E2%80%9D_Regulators_and_industry_leaders_react_to_Biden%E2%80%98s_executive_order_on_crypto_%E2%80%9C\" >&#8221; Regulators and industry leaders react to Biden\u2018s executive order on crypto  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Regulators_and_industry_leaders_react_to_Biden%E2%80%98s_executive_order_on_crypto_%E2%80%9C\"><\/span>&#8221; Regulators and industry leaders react to Biden\u2018s executive order on crypto  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>Joe Biden has signed his 82nd executive order since being sworn into office in January 2021, directly addressing a regulatory framework for digital assets in a rare moment for the U.S. president.<\/p>\n<p>In a Wednesday announcement, the White House <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/presidential-actions\/2022\/03\/09\/executive-order-on-ensuring-responsible-development-of-digital-assets\/\">said<\/a> President Biden&#8217;s executive order required government agencies to explore the potential rollout of a United States central bank digital currency as well as coordinate and consolidate policy on a national framework for crypto. Many <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> outlets previously reported the U.S. president had initially planned to sign the executive order in February, an event that was likely postponed following Russia\u2019s military actions in Ukraine. <\/p>\n<p>The reaction from many industry leaders compared the executive order to a regulatory opportunity \u2014 Biden had rarely spoken directly about crypto and blockchain during his presidency. Reports suggested that the situation with Russia potentially using digital currency to evade U.S. sanctions may have contributed to the U.S. president not waiting longer. The executive order mentioned the risks of circumventing sanctions three times, a sentiment <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/03\/09\/statement-by-nec-director-brian-deese-and-national-security-advisor-jake-sullivan-on-new-digital-assets-executive-order\/\">echoed<\/a> by National Economic Council director Brian Deese and National Security advisor Jake Sullivan:<\/p>\n<blockquote><p>\u201cThe <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach outlined in the E.O. will reinforce U.S. leadership in the global financial system and safeguard the long-term efficacy of critical national security tools like sanctions and Anti-Money Laundering frameworks.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/7d49487b-c570-43a6-b28b-af3be6742b1b.png\"><figcaption style=\"text-align: center;\"><em>President Biden signing the infrastructure bill into law in November 2021<\/em><\/figcaption><\/figure>\n<p>Lawmakers and regulators were quick to chime in on the executive order. Treasury Secretary Janet Yellen, who may have prematurely released her statement on the matter, said the executive order could \u201cresult in substantial benefits for the nation, consumers, and businesses\u201d in supporting innovation while addressing industry risk. Massachusetts Senator Elizabeth Warren, who has often associated cryptocurrencies with illicit acts, said Biden was \u201cright to spotlight crypto\u2019s risks,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SenWarren\/status\/1501608360491335691\">adding<\/a> that the U.S. government needed \u201cstrong rules before it\u2019s too late.\u201d<\/p>\n<p>\u201cWhile I agree with the President&#8217;s desire to combat money laundering and defend America&#8217;s national security, I think his executive order misses the fact that the overwhelming majority of digital asset users are law-abiding and trying to make our financial system better,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SenLummis\/status\/1501570467836178437\">said<\/a> Wyoming Senator Cynthia Lummis, a Bitcoin (BTC) HODLer who has taken a pro-crypto stance on many pieces of legislation. \u201cWe need thoughtful rules around stablecoins, and though I remain unconvinced on the need for a central bank digital currency, I will continue to follow the Federal Reserve&#8217;s work in this area closely.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto could bypass President Biden&#8217;s &#8216;devastating&#8217; sanctions on Russian banks and elites: Report<\/em><\/strong><\/p>\n<p>The Crypto Council for Innovation, a coalition of crypto firms originally formed in April 2021 that includes major exchanges including Coinbase and Gemini, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/crypto_council\/status\/1501575464053321728\">described<\/a> the executive order as having a \u201cholistic and informed\u201d approach to cryptocurrencies. The group added it would likely lead to regulatory clarity, responsible financial innovation and a more inclusive economy.<\/p>\n<p>\u201cWe look forward to working in partnership with regulators and policymakers in the coming months to develop smart policies that bolster America\u2019s position as a global leader of crypto innovation,\u201d said the CCI. \u201cCollaboration is crucial.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">President Biden has signed the EO recognizing the tremendous potential of crypto. It reflects the importance of crypto to the American people. We share the President\u2019s commitment to responsible financial innovation and a more fair, inclusive economy. Full statement below. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/GUINxBeBQG\">pic.twitter.com\/GUINxBeBQG<\/a><\/p>\n<p>\u2014 Crypto Council for Innovation (@crypto_council) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/crypto_council\/status\/1501575464053321728?ref_src=twsrc%5Etfw\">March 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Jeremy Allaire, co-founder and CEO of crypto payments firm Circle, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jerallaire\/status\/1501516691200688128\">added<\/a>:<\/p>\n<blockquote><p>\u201cFor those of us in the crypto community, IMHO this E.O. should be viewed as the single biggest opportunity to engage with policy makers on the issues that matters. The proverbial doors of policymakers are WIDE OPEN, this is now a NATIONAL conversation in the U.S.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/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\/regulators-and-industry-leaders-react-to-biden-s-executive-order-on-crypto\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Regulators and industry leaders react to Biden\u2018s executive order on crypto &#8220; Joe Biden has signed his 82nd executive order since being sworn into office in January 2021, directly addressing a regulatory framework for digital assets in a rare moment for the U.S. president. In a Wednesday announcement, the White House said President Biden&#8217;s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":414113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMzkyM2IyMTUtOGVmYy00NzhmLWJkNDYtOGExMjFhMzgwNTE0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,74863,71511,55229,70934,67874],"class_list":["post-414112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-cryptocurrencies","tag-government","tag-law","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414112","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=414112"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/414113"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=414112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=414112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=414112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}