Bitcoin grew on Wednesday morning after US Treasury Secretary Janet Yellen’s inadvertently published remarks confirmed that the crypto order of Joe Biden plans to have a constructive approach when it comes to the regulation of the industry.
The statement reads:
“A presidential executive order on cryptocurrencies would ‘support responsible innovation’ as it coordinates U.S. policy across agencies. Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems.”
The statement was meant to be published Tuesday afternoon but was accidentally released today.
Following the release of the statement, Bitcoin grew to $41,900, which is an increase of 7%. Naturally, many other cryptos, such as ETH, LUNA, or SOL, also went up.
Cameron Winklevoss from Gemini Trust tweeted:
“Based on remarks, crypto EO is positive and calls for coordinated and comprehensive approach to digital asset policy that will support responsible innovation. I applaud this constructive approach to thoughtful crypto regulation and look forward to working together with the various stakeholders to ensure that the US remains a leader in crypto.”
Following the imposing of sanctions on Russia, many speculated that crypto could be used by the country to evade them, which raises concerns about how the US will react in regard to crypto.
But the comments from Yellen show that the approach is pretty balanced, even if there are still worries about crypto being used illegally: