Following the paper issued by the Federal Reserve on CBDC at the end of January, we’re expecting President Joe Biden to sign an executive order this week regarding crypto regulations and intensifying of the CBDC efforts.
According to the executive order, the Justice Department, Treasury, Commerce Department, and other government agencies will be required to study the legal and economic ramifications that arise from a CBDC in the USA.
President Joe Biden is apparently ready to sign an executive order this week in which the American government’s strategy regarding crypto will be outlined. Federal agencies will be tasked with examining the impact that a CBDC would have on the economy, national security, etc.
US Senator Ron Wyden declared:
“The executive order, which has been in the works since last year, will require federal agencies across the government to report later this year what they’re doing regarding digital tokens. The plan is expected to begin carving out roles for agencies across the government, from the State Department to the Commerce Department.”