President Biden’s executive order on Bitcoin

Joseph Stafford is a partner at Wilson Elser Law Firm and provides advice to clients in the areas of intellectual property practice, regulatory compliance and enterprise risk management.

By signing the Executive Order (EO) on cryptocurrencies, President Biden signaled openness to the potentially positive effects of technology. This is a significant and encouraging development for an asset class (digital asset) that recently exceeded $ 3 trillion in market capitalization. If there has ever been any fear of a widespread international attack on Bitcoin led by the United States, they seem to have disappeared and the United States seems to have indicated its intention to be an international leader in the field. However, it would be naive to suggest that EO will lead to relaxed legal or regulatory scrutiny.

Leave a Comment