President Biden’s Executive Order On Bitcoin

Joseph Stafford is a partner at the law firm Wilson Elser and provides counseling to clients in the Intellectual Property, Regulatory Compliance and Corporate/D&O Risk Management practice areas.

By signing an executive order (EO) on cryptocurrencies, President Biden has signaled an openness to the technology’s potentially positive impacts. This is a significant and encouraging development for an asset class (digital assets) that recently surpassed $3 trillion in market capitalization. If there were ever any fears of a widespread international or United States-led crackdown on Bitcoin, those appear to be gone and the United States appears to have indicated its intent to be an international leader in the area. That said, it would be naïve to suggest the EO will lead to relaxed legal or regulatory scrutiny.

.

Leave a Comment

Your email address will not be published.