White House to Put Crypto under Scrutiny with Executive Order in February

The White House, headed by the Biden administration, is set to introduce a series of policies to evaluate and scrutinize the cryptocurrency asset next month with an extensive executive order, as per a report by Bloomberg News.

According to reports, the executive order obliges nearly all federal agencies to thoroughly evaluate the challenges and potentials of cryptocurrency as an asset while also making provisions to familiarize the masses with the same. Data shows that although 86% of American voters reported to have heard of crypto, only 16% of them have actually traded in digital currency.

Federal agencies are expected to submit the results of their study on crypto during the second half of 2022, highlighting the problems and prospects of cryptocurrency, and the necessary solutions to counter pitfalls.