Joe Biden, the president of the United States, plans to sign this week an executive order aimed at regulating digital assets, Bloomberg has reported citing sources.
According to the publication, the document will require federal agencies to study possible changes to legislation, as well as the impact of cryptos on national security and the economy, by the end of the year.
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The document makes mention to the coordination of work between the SEC and the CFTC, as well as the definition of roles for government agencies, from the Department of State to the Department of Commerce. The directive could discuss the possibility of issuing a CBDC.
According to the document, the White House should play a coordinating role in determining the authorities' approach to this new asset class due to the lack of regulatory clarity.
Authorities fear Russia may use cryptocurrencies to avoid sanctions imposed on the country due to the attack on Ukraine.