Yellen’s Positive Remarks About Biden’s Crypto EO Push Bitcoin Past $41,000

It only took an unintentionally flattering remark from a high-ranking US official to propel Bitcoin above the $41,000 level. Bitcoin (BTC) advanced early on Wednesday, boosting the entire crypto market, as US Treasury Secretary Janet Yellen’s inadvertently disclosed remarks indicated that US President Joe Biden’s long-awaited crypto directive will take a constructive approach to regulating the digital asset sector. The crypto order requires steps to foster innovation while managing industry risks. The secretary’s statement appeared in print a day early, reportedly because of a an error, and was promptly removed, but was retained on a web cache. Bitcoin, which has been trading below $40,000 for the last seven days, rebounded more than 8% Wednesday, hitting $41,000 once more. Related Article | Leading News Outlets In Ukraine Aim To Secure $1 Million By Selling NFTs Crypto EO Detailed Report According to Yellen, the US Treasury will collaborate with interagency partners to develop a detailed report on the future of money and related payment systems in accordance with Biden’s EO. Since early January, Biden’s White House team of financial experts has been working on an executive order on digital assets, which an unnamed source said will help bring “coherence to what the US government is trying to accomplish in this arena.” Bitcoin was trading around $38,135 at this time Tuesday, prior ...