Biden orders government to study digital dollar, other cryptocurrency risks – By Andrea Shalal and Katanga Johnson (Reuters) / March 9, 2022
WASHINGTON, March 9 (Reuters) – U.S. President Joe Biden will sign an executive order on Wednesday requiring the government to assess the risks and benefits of creating a central bank digital dollar, as well as other cryptocurrency issues, administration officials said.
Biden’s order will require the Treasury Department, the Commerce Department and other key agencies to prepare reports on “the future of money” and the role cryptocurrencies will play.
Wide-ranging oversight of the cryptocurrency market, which surged past $3 trillion in November, is essential to ensure U.S. national security, financial stability and U.S. competitiveness, and stave off the growing threat of cyber crime, officials said.
