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Biden to Sign Crypto Order as Firms Face Sanctions Pressure

  • Governmentwide plan poised to be announced this week
  • National security, regulation to be focus of executive order
Joe Biden
Joe BidenPhotographer: Ting Shen/Bloomberg
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President Joe Biden is set to sign an executive order this week that will outline the U.S. government’s strategy for cryptocurrencies, according to people familiar with the administration’s plans.

The order will direct federal agencies to examine potential regulatory changes, as well as the national security and economic impact of digital assets, said the people, who asked not to be named discussing the deliberations. The White House’s approach to crypto has attracted fresh attention in recent weeks after the U.S. and its allies levied sanctions on Russia, prompting concerns that organizations and individuals could use crypto to evade the restrictions.