President Biden signed an executive order Wednesday directing agencies within his administration to study whether the U.S. central bank should create a digital currency.
The order directed relevant departments and agencies within the Biden administration to study the legal and economic ramifications of creating a cryptocurrency and established the "first-ever comprehensive digital assets strategy for the United States.
An official, though, said the administration "will continue to aggressively combat the misuse of cryptocurrency, including the use of it, to evade U.S. sanctions," noting that its stance applies to the Russia-Ukraine crisis, as it does to "any other nation or regime or non-state actor that seeks to undermine U.S. national security."
U.S. Treasury Secretary Janet Yellen speaks during a news conference, after attending the G7 finance ministers meeting, at Winfield House in London, Britain June 5, 2021. Officials also stressed that the president’s executive order had been in the works for months – before Russia launched its multifront war on Ukraine on Feb. 24.on Wednesday touted the president’s order, saying this approach will "support responsible innovation that could result in substantial benefits for the nation, consumers and businesses," and will address "risks related to illicit finance" and prevent "threats" to the U.S. financial system and economy.
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