Crypto is Dear Utol (2025): Pa-Yummy si Ma'am Episode 37the future, whether the White House likes it or not.
That's the takeaway from an executive order on digital assets announced Wednesday morning. The broad document touches on a possible central bank digital currency, reducing the environmental impact of blockchain-dependent products, and, of course, potential additional cryptocurrency regulations.
Its resigned tone suggests the Biden administration knows which way the speculative winds are blowing.
"Digital assets, including cryptocurrencies, have seen explosive growth in recent years, surpassing a $3 trillion market cap last November and up from $14 billion just five years prior," reads the executive order in part. "Surveys suggest that around 16 percent of adult Americans – approximately 40 million people – have invested in, traded, or used cryptocurrencies."
Secretary Anthony Blinked also shared the news on Twitter.
This Tweet is currently unavailable. It might be loading or has been removed.
Notably, the order presents a cautious view of the ongoing financial experiment that digital assets represent. The White House is, understandably, nervous.
"The rise in digital assets creates an opportunity to reinforce American leadership in the global financial system and at the technological frontier, but also has substantial implications for consumer protection, financial stability, national security, and climate risk," warns the executive order.
In other words, in the eyes of the White House, this whole crypto thing could go either way. And so, in an effort to make sure it breaks the way the Biden administration wants, the executive order calls on the Financial Stability Oversight Council to "identify and mitigate economy-wide (i.e., systemic) financial risks posed by digital assets" and the Department of Commerce to "work across the U.S. Government in establishing a framework to drive U.S. competitiveness and leadership in, and leveraging of digital asset technologies."
Interestingly, both cryptocurrency boosters and skeptics found something to like in the order.
Faryar Shirzad, Coinbase's chief policy officer, expressed "reasons for optimism" in a Wednesday morning Twitter thread.
This Tweet is currently unavailable. It might be loading or has been removed.
"The White House seems to understand and embrace the transformational potential of digital asset technology, and the importance of maintaining American leadership," he wrote in part.
Senator Elizabeth Warren, who has long been a critic of the cryptocurrency industry, had a somewhat different take, and offered additional insight as to why the Biden administration may now be taking addition steps due to crypto's role in Russia's war in Ukraine.
"I've been ringing the alarm bell on crypto, from consumer protection to the environment to national security—especially since Russian elites can use digital assets to undermine sanctions," wrote Sen. Warren. "@POTUS is right to spotlight crypto’s risks and we need strong rules before it's too late.
This Tweet is currently unavailable. It might be loading or has been removed.
Whether anything concrete comes out of Wednesday's order is still very much unclear. It does, however, suggest that the Biden administration's time largely on the cryptocurrency sidelines is officially over.
Topics Cryptocurrency
Previous：That Thing They Have
Of Damages and Dog Whistles
Donald Trump is hell
LG's G8 will have a 3D selfie camera
Trump just lost the Arnold Schwarzenegger vote
The Arendt Center’s Dark Thinking
King Joffrey has an unexpected theory about who will end up on the Iron Throne
'Spongebob' song sees 566% stream increase post Super Bowl
Andromeda galaxy will deliver a 'glancing blow' to our Milky Way
No Filter
President Obama slams Trump for his 'demeaning' comments about women
Ode to the Liberal Muslim
NYPD to Google: Quit tracking drunk
'Make Sydney late again' say thousands of Aussies in mass protest for nightlife
Apple comes down hard on apps that record screen activity
Don’t Troll, Organize
After Uber bought Jump, riders started e
'Apex Legends' hits an impressive 10 million players
Microsoft cybersecurity expert: Please, stop using Internet Explorer as a web browser
It Is Happening Again
Chimp escape artists use branch to break out of their enclosure
Sasha Obama's real name has freaked out the internet'Cars 3' reviews prove how desperately we need more female film criticsClimate change could dump even more rain on the tropicsSo, will or won't the Warriors visit the White House?The 'Covfefe Act' is now a thing that exists, because of course it doesDelta, Bank of America pull sponsorship after Shakespeare play is seen as attack on TrumpCan Radical Moov resuscitate the hoverboard market?Patrick Stewart drinks champagne from a shoe because this is a thingSo, will or won't the Warriors visit the White House?Michael Jordan's old Converse sneakers sell for a record $190,000Tech dominates ranking of the world's most valuable brandsBinky is a fake social media app for antisocial peopleHere's the price, design, and release date of the Xbox One XPulse survivors talk fear, healing, and resilience in emotional photo seriesMark Hamill remembers 'princess' Carrie Fisher at Tony AwardsAn ode to strawberry rhubarb pie, the perfect summer dessert'American Gods' finale sneak peek proves Mr. Nancy is still a scene'Game of Thrones' aftershow gets new name, moves to Twitter'Black Mirror' the book is coming soon to haunt your nightmaresDelta, Bank of America pull sponsorship after Shakespeare play is seen as attack on Trump Webb telescope might have found something the universe no longer makes NASA rover drives through ancient Mars river channel, snaps stunning view Shareholders of China's state SpaceX's Starship shows resilience through brutally hot reentry to Earth Uruguay vs. Colombia 2024 livestream: Watch Copa America semi The best early Prime Day 2024 Bluetooth speaker deals: Bose, Sony, JBL DeepSeek limits registrations amid large China just landed on the moon. And it released footage. China’s CATL files for secondary listing in Hong Kong to fund expansion · TechNode Oppo Find N5 to integrate DeepSeek China’s legacy automaker warns of profit plunge amid price war · TechNode This nova is on the verge of exploding. You could see it any day now. NASA mission spots Chinese spacecraft on far side of the moon Best Roomba deals at Amazon: Not much to see... yet Global foundry industry revenue expected to grow 20% this year · TechNode Tencent’s Supercell earned nearly $3 billion in 2024, up 77% y The long, thorny history of Boeing's Starliner spaceship NASA drills freaky scenario where elusive asteroid heads towards Earth Global tablet shipments rise 9.2% y NASA's 3D tour of a famous cosmic masterpiece is exquisite
2.59s , 10130.765625 kb
Copyright © 2025 Powered by 【Dear Utol (2025): Pa-Yummy si Ma'am Episode 37】,Defense Information Network