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Crypto Executive Order 'Both a Landmark and a Question Mark'

By Andrew Goudsward
May 01, 2022

The Biden administration released its long awaited executive order on cryptocurrency last month, directing a range of federal agencies to study and assess a litany of issues related to digital assets, including cybersecurity, money laundering and climate impact.

Using a favorite term in the executive branch, President Joe Biden directed a "whole-of-government approach" to the issue, committing the United States to be a global leader in the rapidly expanding industry, but also exploring ways to bring cryptocurrency under a regulatory framework.

"It was long anticipated and we were hoping for this to come out in terms of the executive office taking leadership and trying to figure out how we regulate, supervise and basically get a good handle over digital assets," Arnold & Porter Kaye Scholer partner Amber Hay said on the firm's TMT Time podcast.

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