• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Top Trading Strategy
No Result
View All Result
Home Breaking News

Bitcoin up 8% as Biden announces executive order on cryptocurrencies

by
March 9, 2022
in Breaking News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Related Posts

Bitcoin drops below $26,000 after SEC sues crypto exchange Binance

Unity stock jumps 17% on Apple Vision Pro partnership

Directors Guild’s deal with Hollywood doesn’t necessarily foreshadow an end to the writers strike

Yes, you can have a red-hot jobs market and a recession

In this article

BTC.CM=

ETH.CM=

Selim Korkutata | Anadolu Agency | Getty Images

Bitcoin and other cryptocurrencies spiked after the U.S. Treasury apparently released details of an executive order from President Joe Biden that appeared to take a supportive stance toward digital assets.

Bitcoin was trading at $41,584.21, nearly 9% higher as of 2:17 a.m. ET, according to data from CoinDesk. Other cryptocurrencies including ether were also sharply higher.

The rally began just after 6 p.m. ET Tuesday after the Treasury published details and a statement online in response to an upcoming executive order from the U.S. president on cryptocurrencies. The statement from Treasury Secretary Janet Yellen was unpublished shortly after.

Reuters and other news outlets reported earlier this week that a Biden order on cryptocurrencies is imminent.

The now-removed Treasury statement said the executive order calls for a comprehensive approach to digital asset policy and that government agencies would coordinate their work.

Traders are still awaiting the final executive order, but the fleeting Treasury statement, which appeared supportive of cryptocurrencies, was enough to boost optimism.

“The leaked Treasury statement has been welcomed by the crypto market as it seems to focus on development of the industry, rather than on imposing unrealistic regulations,” Yuya Hasegawa, market analyst at Japanese cryptocurrency exchange Bitbank, told CNBC.

Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, called the executive order a “constructive approach to thoughtful crypto regulation.”

While countries like China have looked to wipe out cryptocurrency trading, others such as El Salvador have embraced it. But the U.S. currently does not have a high-level framework for developing and regulating cryptocurrencies, sparking fears that it could be left behind.

Last year, cryptocurrency exchange Coinbase said the U.S. should create a new regulator to oversee the digital asset market.

Next Post

Best Vanguard Funds Morningstar: Funds Rated 5 Stars

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

Bitcoin drops below $26,000 after SEC sues crypto exchange Binance

by
June 6, 2023
0

A worsening macroeconomic climate and the collapse of industry giants such as FTX and Terra have weighed on bitcoin's price...

Read more

Bitcoin drops below $26,000 after SEC sues crypto exchange Binance

Directors Guild’s deal with Hollywood doesn’t necessarily foreshadow an end to the writers strike

Unity stock jumps 17% on Apple Vision Pro partnership

Yes, you can have a red-hot jobs market and a recession

Intel drops as Apple moves to its own silicon on all computers

Apple’s practical approach to A.I.: No bragging, just features

Load More

All rights reserved by www.toptradingstrategy.net

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.