Biden Administration Reportedly Looking At Regulating Bitcoin, NFTs, And Crypto – Cites ‘National Security

Report claim that the Biden admin was interested in bringing forth many policies to regulate cryptocurrencies, including Bitcoin, and calling it a matter of national security.

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Bloomberg reported that the WH would release new executive order having federal agencies evaluate cryptocurrencies, explicitly reviewing the benefits and caveats posed by them.

The Biden admin had many meetings about cryptocurrencies. Reportedly, the final details about the federal agencies’ tasks will be fully fleshed outcome the time the executive order is handed down.

The admin approaches the matter of cryptocurrency as something of a national security-related endeavor, and the admin can develop and enact a “cohesive regulatory framework” impacting Bitcoin, all-coins, and NFTs.

“This is designed to look holistically at digital assets and develop a set of policies that give coherency to what the government is trying to do in this space. Because digital assets don’t stay in one country, it’s necessary to work with other countries on synchronization.”

In this endeavor to ascertain what alleged cryptocurrencies pose national security threats, the State Department, Treasury Department, National Economic Council, the Council of Economic Advisors, and the White House National Security Council will all be included.

Yahoo Finance report says that republican Senator Cynthia Lummis, who was classified as “one of bitcoin’s most vocal advocates on Capitol Hill,” is expected to introduce a bill that would see a big government getting involved in the world of crypto.

Senator Lummis’ “legislation would give guidance on which assets belong in which asset class and offer up new rules on taxing crypto and protecting consumers.”

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