Biden Signs Order on Cryptocurrency as Use Explodes - Articles

All Content

Biden Signs Order on Cryptocurrency as Use Explodes

Posted by: Stacey Shrader Joslin on Mar 9, 2022

President Joe Biden today signed an executive order on government oversight of cryptocurrency, which urges the Federal Reserve to explore whether the central bank should jump in and create its own digital currency. Treasury Secretary Janet Yellen said the effort would "promote a fairer, more inclusive, and more efficient financial system" while countering illicit finance and preventing risks to financial stability and national security. The order also directs the Treasury Department and other federal agencies to study the impact of cryptocurrency on financial stability and national security. Earlier in the week, the Treasury Department also said its financial literacy arm would work to develop consumer-friendly materials to help people "make informed choices about digital assets." The Tennessee Ledger has the story.