- The Statement on President Biden’s impending crypto order was released by mistake resulting in the surge of Bitcoin’s price, taking it to above $40,000 on Wednesday.
- The statement published by U.S. Secretary of the Treasury Janet L. Yellen was confirmed by a fact sheet released after the statement.
- The pressure on the White House to play a core role in drafting and regulating cryptocurrencies increased after there arose fears of evading sanctions on Russia through cryptocurrencies.
On Wednesday, the White House published the details of the executive order from President Joe Biden regarding dealings of digital assets.
There was constant pressure on the White House to play a critical role in drafting and regulating cryptocurrencies. With Russia’s invasion of Ukraine and sanctions imposed on the country and amidst the fears that the targeted individuals can evade sanctions cryptocurrencies.
Janet L. Yellen, the U.S. Secretary of the Treasury, accidentally published a statement on President Biden’s executive order on digital assets.
Some of the snippets of the statement: The historic executive order demands a coordinated and comprehensive approach to digital assets policy. The approach will back responsible innovation, as a consequence of which the nation, consumers, and businesses can enjoy substantial benefits. The order also highlights the risks related to illicit finance, providing security to consumers and investors, and preventing potential threats to the financial system and broader economy.
As per the executive order, Treasury will collaborate with interagency colleagues to generate a report on the future of money and payment systems.
After the U.S. Treasury Secretary revealed the details of President Biden’s most awaited crypto order, Bitcoin climbed above $40,000 on Wednesday.
The price of Bitcoin was experiencing a bearish trend in the past week (Russian invasion of Ukraine and sanctions imposed on it in response, speculated the potential reason); as the news broke, the price exploded, according to the analysts at GlobalBlock.
The BItfinex Trading Team speaks on the price surge in the world’s leading cryptocurrency by market cap. Below is the commentary of the Bitfinex Trading Team on the price of Bitcoin:
“Bitcoin is leading the cryptocurrency market higher after U.S. Treasury Secretary Janet Yellen’s early publication of statements revealing that President Joe Biden plans to take a constructive approach in regulating the digital token space. The market has clearly been heartened by talk of supporting responsible innovation and a constructive approach to regulating the evolving digital token economy. Investors waiting on the sidelines as the Russia-Ukraine war unfolds have reentered the market resulting in impressive gains for some of the leading cryptocurrencies.”
Formed in 2012, Bitfinex is a peer-to-peer cryptocurrency exchange. Bitfinex renders digital asset trading services to digital asset traders around the world. Bitfinex has created a name for itself in the crypto industry. The Bitfinex trading team has valuable experience in cryptocurrency.
Former Fed Chair Yellen’s statement was released by mistake a day earlier; it was immediately deleted but not soon enough as it was captured on a web archive, giving a peek into the president’s order.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Latest posts by Nancy J. Allen (see all)
Source: https://www.thecoinrepublic.com/2022/03/10/commentary-bitfinex-trading-team-on-btc-price-surge-following-us-secretarys-statement-of-bidens-crypto-order/
Commentary: Bitfinex Trading Team On BTC Price Surge Following US Secretary’s Statement Of Biden’s Crypto Order
On Wednesday, the White House published the details of the executive order from President Joe Biden regarding dealings of digital assets.
There was constant pressure on the White House to play a critical role in drafting and regulating cryptocurrencies. With Russia’s invasion of Ukraine and sanctions imposed on the country and amidst the fears that the targeted individuals can evade sanctions cryptocurrencies.
Janet L. Yellen, the U.S. Secretary of the Treasury, accidentally published a statement on President Biden’s executive order on digital assets.
Some of the snippets of the statement: The historic executive order demands a coordinated and comprehensive approach to digital assets policy. The approach will back responsible innovation, as a consequence of which the nation, consumers, and businesses can enjoy substantial benefits. The order also highlights the risks related to illicit finance, providing security to consumers and investors, and preventing potential threats to the financial system and broader economy.
As per the executive order, Treasury will collaborate with interagency colleagues to generate a report on the future of money and payment systems.
After the U.S. Treasury Secretary revealed the details of President Biden’s most awaited crypto order, Bitcoin climbed above $40,000 on Wednesday.
The price of Bitcoin was experiencing a bearish trend in the past week (Russian invasion of Ukraine and sanctions imposed on it in response, speculated the potential reason); as the news broke, the price exploded, according to the analysts at GlobalBlock.
The BItfinex Trading Team speaks on the price surge in the world’s leading cryptocurrency by market cap. Below is the commentary of the Bitfinex Trading Team on the price of Bitcoin:
“Bitcoin is leading the cryptocurrency market higher after U.S. Treasury Secretary Janet Yellen’s early publication of statements revealing that President Joe Biden plans to take a constructive approach in regulating the digital token space. The market has clearly been heartened by talk of supporting responsible innovation and a constructive approach to regulating the evolving digital token economy. Investors waiting on the sidelines as the Russia-Ukraine war unfolds have reentered the market resulting in impressive gains for some of the leading cryptocurrencies.”
Formed in 2012, Bitfinex is a peer-to-peer cryptocurrency exchange. Bitfinex renders digital asset trading services to digital asset traders around the world. Bitfinex has created a name for itself in the crypto industry. The Bitfinex trading team has valuable experience in cryptocurrency.
Former Fed Chair Yellen’s statement was released by mistake a day earlier; it was immediately deleted but not soon enough as it was captured on a web archive, giving a peek into the president’s order.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/03/10/commentary-bitfinex-trading-team-on-btc-price-surge-following-us-secretarys-statement-of-bidens-crypto-order/