President Biden Mandates Investigation of Cryptocurrencies
March 11, 2022
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1:28Now PlayingPresident Biden Mandates Investigation of Cryptocurrencies
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as posted by the channelIs there a crypto government crackdown in the works? Check out the video to learn more.
Welcome back to Bold TV with David Grasso. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
President Biden is signing an executive order mandating that the government investigate cryptocurrencies such as Bitcoin and Shiba Inu. It could be the first step toward government crypto regulation.
Here's what we currently know. The US government is interested in learning more about how cryptocurrency is used and moved, as well as whether it is being used to fund illicit operations or circumvent sanctions such as those imposed on Russia.
The government is also interested in learning more about cryptocurrency and how it affects financial stability. Because it's a new sector of the economy worth over a trillion dollars.
The good news is that all indications are that cryptocurrencies will continue to be a successful investment. The terrible news for present cryptocurrency investors. The US government is looking at developing its own cryptocurrency.
The Federal Reserve wants to know if having our own government-backed digital currency could help alleviate some of America's current money problems, such as inequality. A series of reports will be produced in six months, right before the midterm elections, that will provide guidelines and possibly direct congress to regulate crypto and create a digital currency backed by America.
Keep an eye on the markets if you're in the game. Because it appears like 2022 will be a watershed moment for cryptocurrency.
Do you think the US government will release a government-backed digital dollar? Let us know what you think in the comments below!
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