White House issues its executive order on cryptocurrencies – TechCrunch
TechCrunchJUL 2022
Biden Issues Executive Order on Cryptocurrency
Image copyright: Chip Somodevilla/Getty Images [via Business Insider]
The Spin
Narrative A
The Biden administration is finally embarking on a thoughtful and constructive approach to the exciting new industry, one that will allow the US to remain at the forefront of innovation in the cryptocurrency space.
Narrative B
Biden is only analyzing benefits at this point. He must take a measured and cautious approach to these new financial technologies, which--in the absence of regulation--pose dangers to consumers and an existential threat to the stability of global financial markets.
Narrative C
Nine countries have already launched a CBDC and 16 others--including China--are in the development stage. The status of the USD as global reserve currency is at stake if the US doesn't hurry up and establish a digital dollar.