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The US all set to regulate Cryptocurrencies, Biden to sign an executive order soon

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As per recent reports, it is expected that the US President is all set to sign the order regulating cryptocurrencies. This executive order will clearly articulate and define the guiding principles of cryptocurrencies in the US market. The order shall guide various roles and responsibilities of multiple stakeholders including treasury, State Justice, and the CBDC. These three regulatory authorities in conjunction are expected to bring out the strategy through which digital assets and cryptocurrency investments shall be monitored in the country.

What does this Executive Decision Cover?

The executive team or steering committee as popularly known will study this investment model. A clear report calling out details of this investment model along with key risks and benefits shall be developed. The agency so set up shall study the benefit of creating a native currency under the umbrella of CBDC and also develop plans to regulate existing investments.

The agencies so set up this task force will develop plans to protect the interest of investors, the economy, and also assess risks about environmental energy and financial impacts. 

While it is agreed that cryptocurrency is the future, the US government thinks that legal status may be given after carefully considering all the investment opportunities and risks. The Federal Trade Commission (FTC) will ascertain the risks of investment along with market conditions. 

The treasury department on the other hand will work on developing protection measures to safeguard the investment interest of the larger population. This report shall be submitted after due consultation with multiple other stakeholders. The Federal Reserve and the securities exchange board will steer head to work on developing protection measures. 

Crypto Investments in the US

It is estimated that the US holds more than 25 million crypto investments. That is more than 8% of the total US population has already invested in crypto investment. Currently, the US stands second in terms of crypto investment making this investment model the most sought after across the globe. 

As of 2021, the US had taken a positive stand in crypto investments. As compared to other countries, the US government had declared that Bitcoin transactions are legal. Investors could buy and sell products and services using Bitcoin. El Salvador in Central America became the first country to legalize Bitcoin payments. An investor can directly buy products and pay using Bitcoin from the digital wallet. 

In addition to this, it is also possible for investors to buy and exchange cryptocurrencies for other digital assets. This digital asset may include fiat currencies, gold, merchandise, automobile, or another form of assets including real estate. 

To make your investment in Bitcoin or any other cryptocurrency, an investor only needs to have a digital exchange in place. Every cryptocurrency exchange in the USA needs to have its registration completed with multiple regulatory agencies to obtain its license to operate. Once the KYC document and other verification are completed, investors are at the liberty to buy or sell cryptocurrencies. As far as investment is concerned, you do not need to share any of your details including your social security number while creating your account with a crypto exchange. 

In addition to Bitcoin, US residents have been showing their widespread acceptance of other cryptos as well. This includes Ethereum, Tether, Binance Coin, and even USDC. USDC is a popular choice as it is directly pegged with the US dollar. 

Role of Crypto Exchanges in the US

Considering the growing interest in cryptocurrencies and their investment model, many cryptocurrencies have also entered the US market. These crypto exchanges currently boast to hold all popular cryptos making the investment model much easier for US residents. 

Keeping the growing interest on one side, the US government has taken significant steps to ensure that crypto transactions and investors’ funds are secured. Every crypto exchange that wishes to establish its operations in the US needs to first complete its registration process with US securities laws. In addition to this, there are also several laws prescribed by the SEC and exchanges need to abide by the same to run their operations in the US.While the move by Biden is welcoming, we are yet to see the output of the executive decision and how crypto investments will impact the overall financial market. If you want to know more about Bitcoin this article will completely explain Bitcoin in a very easy way.

Disclaimer. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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