A leak in U.S. president Joe Biden’s intentions to sign an executive order, urging regulators to collaborate to create a clear and consistent foundation for crypto regulation, cause a spike in crypto prices.
After plummeting under the psychological barrier in the aftermath of Russia’s invasion of Ukraine, the bitcoin price has soared to above $40,000 per bitcoin, up 10% in the last days. Other top ten coins include Ethereum. BNB, Solana, Cardano, XRP, and Avalanche are all up between 5% and 8%.
Treasury Secretary Janet Yellen wrote in a statement that was briefly published on Tuesday evening before being removed “A presidential executive order on cryptocurrencies would ‘support responsible innovation’ as it coordinates U.S. policy across agencies” The site is no longer accesible, but the publication was caught by eagle-eyed reporters, causing a whirlwind of transactions and especulations in the crypto-world.
“Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems,” the now removed statement read. “Because the questions raised by digital assets often have important cross-border dimensions, we’ll work with our international partners to promote robust standards and a level playing field.”
The executive order is set to aid American consumers in getting more acquainted with the crypto world, facilitating the possibility of acquiring bitcoin and other cryptocurrencies directly from their banks.