Biden's cryptocurrency policy seeks to keep U.S. in lead on technology

President Joe Biden's executive order will sign today an executive order directing government agencies to examine the potential benefits and risks of cryptocurrencies as it seeks to position the U.S. at the forefront of technological crypto innovation, according to a White House fact sheet. "The United States must maintain technological leadership in this rapidly growing space, supporting innovation while mitigating the risks for consumers, businesses, the broader financial system, and the climate," the document said. Besides focusing on crypto's impact within the country, the U.S. "must play a leading role in international engagement and global governance of digital assets consistent with democratic values and U.S. global competitiveness," it said. The whole-government policy maps out six key priorities — consumer and investor protection; financial stability; illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation. Some parts of the plan are already in action.