Bitcoin and cryptocurrency prices have soared following the premature publication of a U.S. Treasury statement on a long-awaited Biden administration executive order.
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The bitcoin price has leaped to over $40,000 per bitcoin, up 10% on the last 24 hours, after crashing under the psychological level in the aftermath of the Russian invasion of Ukraine.
Ethereum and other top ten coins BNB, solana, cardano, XRP and avalanche are all up between 5% and 8% while Terra’s luna payments coin has left bitcoin, ethereum and others in the dust, adding a blistering 20%.
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U.S. president Biden is set to sign an executive order related to cryptocurrencies. A leaked … [+]
“A presidential executive order on cryptocurrencies would ‘support responsible innovation’ as it coordinates U.S. policy across agencies,” Treasury secretary Janet Yellen wrote in a statement that was briefly published on Tuesday evening before being removed but not before being spotted by Coindesk reporters. The webpage now reads: “Access denied—You are not authorized to access this page.”
The news calmed bitcoin and crypto investor fears that the executive order, set to be signed on Wednesday by U.S. president Joe Biden according to reports earlier this week, would mean a broad crackdown on the red-hot bitcoin and crypto market.
“Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems,” Yellen’s now removed statement read. “Because the questions raised by digital assets often have important cross-border dimensions, we’ll work with our international partners to promote robust standards and a level playing field.”
Biden’s executive order is expected to instruct federal agencies to examine potential regulatory changes, as well as the national security and economic impact of bitcoin and other cryptocurrencies.
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The bitcoin price has soared over the last 24 hours. Ethereum and other smaller coins such as BNB, … [+]
“The executive order is calling for a ‘coordinated and comprehensive approach to digital asset policy,’ and in leaked documents it seems to already being championed by Janet Yellen, the U.S. Treasury secretary,” Nigel Green, the chief executive of financial advisory group deVere, wrote in emailed comments.
“History will judge Biden signing this executive order to instruct departments across Washington to study digital currencies as a landmark moment.”
Source: https://www.forbes.com/sites/billybambrough/2022/03/09/leak-reveals-bidens-crypto-plans–sending-the-price-of-bitcoin-ethereum-bnb-solana-cardano-xrp-terras-luna-and-avalanche-higher/