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Biden Pushes for Coordinated Approach to Crypto Oversight

  • U.S. to mandate studying illicit finance, consumer protection
  • Placing high urgency on research into U.S. digital dollar
President Joe Biden on March 8.

President Joe Biden on March 8.

Photographer: Oliver Contreras/Sipa/Bloomberg

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President Joe Biden is directing government agencies to focus more on the fast-growing crypto market, from researching a U.S. digital dollar to combating illicit finance. 

In an executive order signed on Wednesday, the White House called on agencies across the government to coordinate what’s thus far been a scatter-shot approach to the asset class. However, it falls short of providing clear direction on regulation.