Since digital assets emerged, US presidents have made headlines with their views on cryptocurrencies. As the United States celebrates President’s day, crypto.news takes a look at how current and previous US administrations have been treating cryptocurrencies.
Biden’s administration crusade against crypto
The Biden administration is one term that will go down in the memories of many crypto enthusiasts for the developments in the crypto space during its period, especially after the FTX doom and other collapses.
In March 2022, president Joe Biden signed an executive order directing the government to study the pros and cons of cryptocurrency. Reported disagreements between White House staff and Treasury Secretary Janet Yellen slowed the introduction of the strategy.
In the proposed bill, public safety was mentioned as the primary concern. The Biden administration requested the Treasury Department to evaluate cryptocurrency and suggest regulatory changes. To reduce threats to illegal financing and national security, the President demanded “unprecedented emphasis on concerted action” from government authorities. Biden also brought up the energy requirements of virtual currencies like bitcoin (BTC អ). He suggested that the government consider making crypto innovation less environmentally harmful.
The Biden administration, ជំរុញ។ for tighter crypto legislation, has also shown interest in developing a digital dollar.
As president Biden has only been in office for a short time, it is still being determined whether we should anticipate more public pronouncements on crypto as his cabinet members have widely varying perspectives on the crypto ecosystem.
Clinton family thinks crypto has a whole world of possibilities
One of the early presidential adopters, Bill Clinton, allegedly got his first bitcoin in 2016 – more than 15 years after his two stints in office. While the Democratic US president received the crypto asset present from venture investor Matthew Roszak, reportedly with a grin on his lips, he has been relatively mum on the ecosystem.
But Hillary gave a keynote lecture at Ripple’s Swell conference in 2018, calling blockchain a platform for which the “permutations and possibilities are truly massive.”
Source: https://crypto.news/commander-in-coin-how-us-presidents-treated-cryptocurrencies/