By IftikharPost – March 09, 2022 at 14:45 AEST
- Order would direct Fed Agencies to consider a role in setting policies regulating digital currencies.
- In January, the Federal Reserve announced it would seek public comment on whether to issue a fully digital U.S. dollar
Follow me on Twitter to get an breaking news alerts for Crypto: https://twitter.com/iftikharpost
According to reports from Bloomberg & Reuters, President Joe Biden is set to sign an executive order this week detailign the U.S. government’s strategy for dealing with cryptocurrencies.
“The executive order has been known about before the war in Ukraine and was originally intended to mainly address stablecoins and central bank digital currencies (CBDC).”
Marcus Sotiriou, an analyst at U.K.-based digital asset broker GlobalBlock, wrote in an email to CoinDesk.
One of the most important sections of the order is the directive to agencies to build on the Federal Reserve’s work to investigate the prospect of introducing a virtual currency, a type of “digital dollar” that is also being considered by other countries.
In January, the Federal Reserve announced it would seek public comment on whether to issue a fully digital U.S. dollar. That could serve as a more stable alternative to other digital forms of money.
Keep Tuned for more update soon.
