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Analysis

U.S. Goverment Drafts Unified Crypto Oversight Plan

by Miki 10/09/2021
by Miki 10/09/2021 0 comment

The Biden administration has drafted an executive order that could create a unified approach to crypto regulation.

White House Could Appoint Crypto Czar

As first reported by Bloomberg, the order would have federal agencies study various areas of the cryptocurrency industry and create recommendations within those areas.

In particular, the order pertains to areas such as financial regulation, economic innovation, and national security.

The order would pressure departments that have so far overlooked cryptocurrency to deal with those matters. The White House could also appoint a ‘crypto czar’ to oversee the effort.

According to Bloomberg, it is still undecided whether the order will be released, but the Biden administration will unveil an overall crypto strategy regardless of the outcome.

The White House has not commented on the news, while Bloomberg’s sources remain anonymous.

SIMETRI Research
Sanctor Turbo Demo Day

U.S. Regulatory Landscape Is Developing

Today’s news comes shortly after independent regulation efforts. On Oct. 6, the U.S. Department of Justice announced plans to create a crypto enforcement team. In September, the U.S. Treasury announced sanctions that target the use of cryptocurrency in ransomware.

Various officials have also made statements on regulation. In July, Chairman of the Federal Reserve Jerome Powell called for an “appropriate regulatory framework” for dealing with stablecoins.

On Oct. 5, Gary Gensler, Chairman of the Securities and Exchange Commission, suggested that wide-ranging crypto restrictions are the domain of government agencies other than the SEC.

Disclaimer: At the time of writing this author held less than $75 of Bitcoin, Ethereum, and altcoins.

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

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      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

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      Binance Trading Platform Licenses in Bahrain, Canada

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