President Biden’s Executive Order on Bitcoin

Joseph Stafford Partner at Wilson Elser Provides advice to clients In the areas of intellectual property, regulatory compliance and corporate risk management / D&O.

By signing an Executive Order (EO) on cryptocurrencies, President Biden signaled an openness to the technology’s potential positive effects. This is a significant and encouraging development for the asset class (digital assets) that recently exceeded $3 trillion in market capitalization. If there were any concerns at all about a large-scale international or US-led crackdown on Bitcoin, those fears seem to be gone and the US appears to have signaled its intent to be an international leader in the region. Having said that, it would be naive to suggest that the Ethics Office would dilute legal or regulatory scrutiny.

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