Newsfeed: Biden signs cryptocurrency executive order, hoping to advance a digital dollar and other innovations

By Matthew Brown

President Joe Biden signed an executive order on Wednesday mobilizing the federal government to create a strategy for digital assets like cryptocurrencies that promotes innovation in the industry while minimizing risks to Americans and the global financial system.

Most notably, the order directs the Federal Reserve to research and potentially develop its own digital dollar, which would be similar to cryptocurrencies that have become a financial asset for some Americans in recent years.

The order directs the Treasury Department to develop guidelines for Americans trading and using cryptocurrency that aims to help them avoid fraud or market volatility. Treasury will also do further research on the potential role of digital assets and blockchain in future payment systems.

REGULATING CRYPTOCURRENCY: Biden administration looks to regulate cryptocurrency with new executive order. What does it mean?

CRYPTO GLOSSARY: What is Bitcoin? Cryptocurrency? A glossary to help you make sense of Biden’s executive order

“Fundamentally, an American approach to digital assets is one that encourages innovation but mitigates the risks to consumers, investors, and businesses, broader financial stability, and the environment,” said Brian Deese, director of the National Economic Council, and Jake Sullivan, Biden’s national security advisor, in a Wednesday statement.

Meanwhile, the Commerce Department will work to ensure that American finance and the dollar are still central to global business and trade. Other agencies will examine cryptocurrency’s role as a speculative asset and its role in illicit finance.


More From The Real Estate Guys
  • Check out all the great free info in our Special Reports library.
  • Don’t miss an episode of The Real Estate Guys™ radio show. Subscribe on iTunes or Android or YouTube!
  • Stay connected with The Real Estate Guys™ on Facebook,  and our Feedback page.

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.


Subscribe

Broadcasting since 1997 with over 600 episodes on iTunes!

real estate podcast on itunesSubscribe on Androidyoutube_subscribe_button__2014__by_just_browsiing-d7qkda4

 

 


Love the show?  Tell the world!  When you promote the show, you help us attract more great guests for your listening pleasure!

 

 

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email

Be the first to know when new content arrives!

Explore The Archives

Archives
Metal Ask Change
Gold $1641.93 $-6.16
Silver $18.67 $-0.33
Platinum $873.72 $0.89
Palladium $2130.39 $9.54
Gold to Silver 87.94 to 1
Gold to Platinum 1.88 to 1
Gold to Palladium 0.77 to 1

The Real Estate Guys™ Guests and Contributors Have Been Featured On: