The Office of Science and Technology Policy (OSTP), an Executive Office of the President of the United States, commenced a study to identify the scope for offsetting energy use and climate changes related to digital assets. On March 9, United States President Joe Biden signed an executive order, directing various federal agencies to examine implications of digital assets on six key areas — consumer and investor protection, financial stability, financial inclusion, responsible innovation, the United States’ global financial leadership and combating illicit financial activity. As a part of the initiative, the OSTP invited the general public and other stakeholders to …

United States President Joe Biden signed the Executive Order on Ensuring Responsible Development of Digital Assets on March 9. The order had been expected for several months, giving some in the industry ample time to build up trepidation. Once the executive order, or EO, was released, however, it was met with a chorus of approval. “I was expecting certain things and the positive tone was not necessarily one of them,” TRM Labs head of legal and government affairs Ari Redborn said of the order. Crypto advocacy group Coin Center executive director Jerry Brito tweeted that the EO is “further affirmation …

As Russia’s self-styled “special operation” against Ukraine continues, crippling economic sanctions remain the Western powers’ primary weapon to counter Russia’s military actions without triggering an even more dramatic escalation. As NATO and allies’ financial offensive unfolds, ensuring that the collective West presents a united front remains political leaders’ chief concern. The global crypto industry keeps getting suspicious looks as some agents of state power are seemingly entrenched in their beliefs that digital assets could be the weak spot undermining the efficiency of the sanctions push. Despite ample evidence to the contrary — including the FBI director’s Congress testimony — there …

Later today, U.S. president Joe Biden will sign a long-anticipated executive order on digital assets. Despite fears that the order may resound a regulatory clampdown on the industry, the language of the document is fairly favorable, the key focus being coordination and consolidation of various agencies’ efforts within a unified national policy. The order designates six key areas of the federal government’s involvement with the digital asset ecosystem — consumer and investor protection, financial stability, financial inclusion, responsible innovation, United States’ global financial leadership, and combatting illicit financial activity — and directs specific agencies to lead in designated policy and …

The White House has officially submitted President Joe Biden’s nominations to fill two seats at the Commodity Futures Trading Commission with the upcoming departure of another commissioner. In a Friday announcement, the White House said it had sent Citi managing director Caroline Pham’s and Summer Mersinger’s names to the Senate for confirmation. Mersinger previously served as chief of staff to commissioner Dawn Stump — who is expected to leave the agency this year — as well as the director of the Office of Legislative and Intergovernmental Affairs. She and Pham will be taking the places of recently departed commissioner Dan …

The White House, under the Biden-Harris administration, introduced a five-pillar strategy to counter corruption as a part of the core United States national security interest. The strategy involves establishing a new task force to address potential illicit activities on crypto exchanges and other services that can serve as avenues for money laundering. With the motive to enhance enforcement of Anti-Money Laundering (AML) regulations, as well as criminal and civil laws, the Federal government plans to implement new tools for investigating and prosecuting money laundering offenses. Specifically for cryptocurrencies, “PILLAR THREE: Holding Corrupt Actors Accountable” highlights: “DOJ [Deparment of Justice] will …

U.S. Treasury Secretary Janet Yellen has given her opinions on the potential of a digital dollar but is hesitant to come to any conclusions at this stage in proceedings. Yellen said on Thursday that she had not formed a view on whether the Federal Reserve should create a digital version of the dollar, but such a move would require broad consensus among Congress, the U.S. central bank and the White House. This follows the recent reports that the Federal Reserve is currently researching whether an electronic version of the greenback would be beneficial or not. Yellen said that she sees …

The United States House of Representatives passed the $1.2 trillion bipartisan infrastructure bill, which if signed into law by President Joe Biden, would enforce new provisions in relation to crypto-tax reporting for all citizens. The infrastructure bill was first proposed by the Biden administration aimed at primarily improving the national transport network and internet coverage. However, the bill mandated stringent reporting requirements for the crypto community, mandating that digital asset transactions worth more than $10,000 are reported to the IRS. As Cointelegraph reported, the bill was first approved by the Senate on Aug. 10 with a 69-30 vote, which was …

Officials within the Biden administration are reportedly studying “gaps” in cryptocurrency regulations following the latest bout of volatility in the market, sending a signal that new rules could soon be proposed. People familiar with the matter informed The Washington Post that White House officials are studying whether digital assets like Bitcoin (BTC) can be used to finance terrorist activities. They are also mulling whether retail investors should be protected from the extreme price fluctuations of digital asset markets. Bitcoin’s brief collapse below $30,000 last week triggered a panic wave of selling, as digital asset markets shed over $1 trillion in …

The price of Bitcoin (BTC) dropped 3% in less than three hours as the U.S. stock market plummeted. Following the pullback, most traders are neutral or slightly bearish on the short-term trend of BTC. Traders and on-chain analysts are now pinpointing $12,500 and $11,973 as the two levels to watch for the continuation of the Bitcoin rally. Why $12.5K and $11.9K are crucial for the current Bitcoin rally The Bitcoin price dropped sharply on the day due to the confluence of major macro factors. JPMorgan said the re-election of U.S. President Donald Trump would be the most favorable outcome for …

The White House has issued two advisories to warn that fentanyl and other synthetic opioids are being purchased using major cryptocurrencies. The advisories were addressed to financial institutions as well as digital payments platforms, and are designed to help them detect and report suspicious transactions. Warning that the United States “is in the midst of an unparalleled epidemic of addiction and death,” the documents said: “An analysis of sensitive financial data indicates that domestic illicit drug manufacturers, dealers, and consumers use online payment platforms or CVC to purchase precursor chemicals or completely synthesized narcotics primarily sourced from China.” White House: …