Joe Biden signed the US cryptocurrency decree. In a statement made by the White House, it was announced that the executive order will focus on six key issues in the crypto-asset industry.

The executive order, which was signed by US President Joe Biden today, was a development that the crypto markets had been waiting for for a long time. Considered the first serious step towards regulating cryptocurrencies, the focus areas of the executive order are consumer protection, financial stability, illegal uses, leadership in the global financial industry, financial inclusion and discreet innovation.

In the evening hours, a statement about the relevant decree was published on the official website of the Ministry of the Treasury, and then it was deleted. After seeing this statement stuck in the web archive, there was a significant increase in cryptocurrencies.

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The White House said in a statement that the United States needed to maintain technological leadership in the rapidly growing digital asset space by supporting innovation while mitigating risks to consumers, businesses, the wider financial system and the climate. It was also emphasized that the United States should play a leading role in the international engagement and global management of digital assets, consistent with its global competitiveness.

The executive order, signed by President Biden, will focus on protecting all actors of the industry, in coordination with other government agencies, especially the Ministry of the Treasury. On the other hand, while it is expected that the Financial Stability Oversight Council will contribute to the protection of US and global financial stability by identifying financial risks and making appropriate policy recommendations, studies will be carried out to reduce systematic risks.

In the statement, it was stated that another issue that will be focused on with the executive order will be reducing the risks arising from the illegal use of digital assets. While it was stated that state institutions will work in a coordinated manner in a way that has not been experienced before, it was mentioned that the USA will act together with its allies and partners.

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It is also mentioned that with the regulatory framework, an approach will be adopted for the USA to continue its leadership in the field of digital assets. With this approach, the USA appears to have demonstrated its adoption with the intention of becoming a leader in the field of cryptocurrencies, unlike its biggest rival, China.

Another notable issue in the statement was the acceleration of work on a central bank digital currency. The White House has given positive signals that a CBDC issuance by the Fed can be achieved if the national interests are agreed for a US CBDC. In this context, the executive order offers an incentive for the Fed to continue its efforts to research, develop and evaluate a central bank digital currency.

After this important development, which is positively priced by the crypto money industry, Bitcoin (BTC) has seen an increase of close to 10 percent since yesterday, rising to the $ 42,500 band.