Friday, January 21, 2022
Home Crypto News Market Biden Administration Is Planning An Executive Order On Cryptocurrencies

Biden Administration Is Planning An Executive Order On Cryptocurrencies

- Advertisement -

Earlier this month, President Joe Biden said top US national security advisers will gather officials from 30 countries this month with plans to combat the growing threat of ransomware and other cybercrime.

Read: Bloomberg Believes SEC May Approve Four Bitcoin ETFs For The First Time By The End Of October



The White House is considering a wide-ranging oversight of the cryptocurrency market to combat the growing threat of ransomware and other cybercrime, a spokeswoman said on Friday.

Read: JP Morgan Report Shows Institutional Investors Are Preferring Bitcoin Over Gold

“The NSC and NEC are coordinating across the interagency to look at ways we can ensure that cryptocurrency and other digital assets are not used to prop up bad actors, including ransomware criminals,” the White House National Security Council spokeswoman said.

Read: Bank Of America Report Shows 27% Of The United States Population Will Be Using Crypto In 2022

 

Ransom software works by encrypting victims’ data. Typically hackers will offer the victim a key in return for cryptocurrency payments that can run into hundreds of thousands or even millions of dollars.

Read: SEC Chairman, Gary Gensler Confirms That SEC Has No Plans To Ban Crypto

 

The oversight could include an executive order, Bloomberg News reported on Thursday. The spokeswoman did not comment on whether an executive order will be part of such oversight.

Bloomberg writes:

“The Biden administration is weighing an executive order on cryptocurrencies as part of an effort to set up a government-wide approach to the white-hot asset class, according to people familiar with the matter.”

Read: Federal Reserve Chairman, Said Fed Has No Intention To Ban Bitcoin Or Crypto





Earlier this month, President Joe Biden said top U.S. national security advisers will gather officials from 30 countries this month with plans to combat the growing threat of ransomware and other cybercrime.

Read: US Justice Department launches a National Crypto Enforcement Team

An online session hosted by the White House National Security Council will also be aimed at “improving law enforcement collaboration” on issues like “the illicit use of cryptocurrency,” Biden had said.

- Advertisement -
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

CoinMarketCap Finally Verified The Floki Inu Market Cap

CoinMarketCap (CMC), the world's number 1 crypto asset tracking website, has verified the Floki Inu (FLOKI) market capitalization. ...

Polkadex Joins Second Round of Parachain Auctions with Community Crowdloan

Tortola, British Virgin Islands,, 21st January, 2022,  — Polkadex Inc., the DeFi order-book exchange built on Substrate, has announced its parachain bid, aiming to...

Former VK.com CEO Andrew Rogozov Joins TON Foundation as Founding Member to Oversee Product Efforts at Successor of Telegram’s Blockchain Project

Abu Dhabi, UAE, 21st January, 2022, ChainwireAfter years of building, The Open Network (TON) is excited to announce an exclusive addition to its team:...

FTX Exchange Launches FTX Visa Cards That Will Enable Users To Spend Their Balances At Merchants Worldwide

FTX launches debit cards in collaboration with Visa. window.coinzilla_display = window.coinzilla_display || ; var...

Has The Time Come For Shiba Inu To Get Listed On Robinhood, As The Exchange Launch Public Beta Crypto Wallets

Online broker Robinhood has launched a cryptocurrency wallet beta program for 1,000 selected clients on a waiting list. ...

Ethereum Co-Founder Vitalik Buterin Comes Up With His Guess About Satoshi Nakamoto

During a conversation with UpOnlyTV, Vitalik Buterin, founder of Ethereum, spoke about the current challenges of his project and its use cases.

Top 5 Leading Crypto Firms

The blockchain sector is still in its infancy, but it is expanding rapidly. Blockchains are decentralized databases that are shared across computer network nodes...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.