Posted on 03/07/2022 3:27:41 PM PST by Oldeconomybuyer
WASHINGTON (AP) — President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded.
The order is expected to describe what government agencies, including the Treasury Department, need to do to develop policies and regulations on digital currencies. It is expected to include a request for the State Department to ensure that American cryptocurrency laws are aligned with those of U.S. allies and will ask the Financial Stability Oversight Council — which monitors the stability of the U.S. financial system — to study illicit finance concerns.
Additionally, the order will explore the possibility of a new central bank digital currency. The Federal Reserve issued a paper on the topic in January that explores the risks and benefits of U.S.-backed digital currency.
Implicit in the order will be that cryptocurrency will remain a part of the U.S. economy for years to come. The White House’s plans to move forward with the executive order were first reported by Bloomberg News.
(Excerpt) Read more at apnews.com ...
An executive order can’t do much
How much does Hunter stand to gain?
One already has to pay taxes on cryptocurrency if it goes up in value and you sell for profit. It’s the same as any investment. Let’s just see what lunacy the White House comes up with this time.
Additionally, the order will explore the possibility of a new central bank digital currency. The Federal Reserve issued a paper on the topic in January that explores the risks and benefits of U.S.-backed digital currency.
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That sounds like the very contradiction of the point of a digital currency.
Article 1, Section 10
No State, shall make anything but Gold and Silver Coin, a tender in payment of debts.
Biden has such a Midas Touch. Have your wreckage folks.
Never underestimate the ability of Joe to #*$) things up.
Standing by - with the shovels at the ready!
The whole point of crypto-currency is having a financial asset which the government cannot arbitrarily seize, freeze, or monitor who you're making transactions with. It is intended to be the digital equivalent of having a stack of cash in your safe.
I thought the whole point of bitcoin is that it is outside the control of any governmental authority or regulations. If they are going to regulate it, then what? Theoretically government officials shouldn’t even know if you own any bitcoin. They shouldn’t know if you are buying amd selling goods and services using bitcoin.
Do we even have a Congress anymore, or is the presidency just a de facto dictatorship? Asking for a friend.
He can’t write law.
I want a law to tamp down EO’s.
I know... Biden can write an EO on art — call it the Hunter EO.
*elbow chop salute*
But if you pay for something directly with crypto
...who’s to know
The Constitution requires that our money consist only of gold and silver coin.
How is this even Constitutional?
One not too long ago got a lot of people fired, vaccinated for no good reason and ruined lives
“Standing by - with the shovels at the ready! “
more like forks and spoons
Yet another Executive Order with no Constitutional authority to back it up.
As soon as the banking lobby tells him what his policy is, he will announce it.
That’ll fix it. /s
Probably the last nail in the coffin for my holdings.
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