Biden signs order on cryptocurrency as its use explodes

Posted on AllSides March 9th, 2022
From The Left
banking and finance, cryptocurrency, Joe Biden
AP Photo/Patrick Semansky, File

President Joe Biden on Wednesday signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should jump in and create its own digital currency.

The Biden administration views the explosive popularity of cryptocurrency as an opportunity to examine the risks and benefits of digital assets, said a senior administration official who previewed the order Tuesday on the condition of anonymity, terms set by the White House.

Under the executive order, Biden also has directed the Treasury Department and other federal agencies to...

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