Joe Biden's Crypto Executive Order is a Historic Good News for Bitcoin.

[bitgolden]

Honestly I do not think that there were too many people that expected Biden to do something bad regarding crypto. I mean sure there could be some big names, but the overall population never expected this to be a bad thing. They are going to get involved of course, because they have the power to make a 1+ trillion dollar version of USDT, and in process destroy every single other stablecoin as well. Who wouldn't trust that they would take their money back from USA government.

This would result with everyone moving their money there, and even some wealthy people hiding their money with it as well while keeping its value. This is why it's going to be epic when it first starts.

[kryptqnick]

It's good that the order is about looking into the impact on climate change and financial crimes cryptos might be involved in rather than stating how cryptos are harmful. But what really matters now is how this will play out, what sort of reports will be prepared and which conclusions will be reached. So it's just a careful order to keep looking into cryptos and how to regulate them best, but it's nothing great either. Then again, if many in the US are lobbying for harsher regulations, and given that the traditional stock market can see crypto trading as a direct competitor, it's good that this order is a neutral one.

[hyudien]

But rather than banning cypto Joe Biden administration gave it some real recognition that is worth celebrating. Instead of becoming a problem to Bitcoin, Joe Biden became a solution, as he has ordered federal agencies to dig into many of the problems that crypto created as it became more mainstream, including its role in money laundering and terrorist groups.

This executive order signals that at the very least, Biden thinks crypto is a serious and important part of the US economy that have some potential. Hence, he mandated the US financial regulators to update and expand  their scope to address cryptocurrency by studying crypto.

Remember when the U.S. government said they were invading Iraq because they wanted to keep Americans safe from terrorism and WMD's? Or when they began mass surveillance warrantless and without due process, all under the name of safety post 9/11? No, you should not trust that the U.S. government acts in good faith when they tell you that they're just keeping you safe. It's an easy sell to someone that hasn't been involved in these matters, simply convincing them that the measures the government is taking is done with the citizen in mind. Hardly ever is the case, usually is just a power grab.

The executive order essentially paves the way to overregulation and high taxation. It shouldn't come as any surprise that this executive order aligns so closely with abysmal inflation reports coming out of the U.S., the most recent indicating a 40 year high.

Is America position weak today? it may be true that Biden is shrouded in uncertainty about all the policies he makes. Despite the alignments that have been launched through crypto regulations, until now it has only been an unfinished job. What America does seems to be just trying to divert one issue to another. Doing economic balance by taking crypto sympathy is not as easy as imagined. There are still camps that are not in line with crypto in America, especially ministers who are more friendly with the central bank which is considered a big power in terms of American finance.

[avikz]

Before this long awaited document was released, many economic analyst has predicted a crackdown on the crpto industry. In fact celebrated economist, Matin Wolf advised the US government to make cryptocurrencies illegal.

But rather than banning cypto Joe Biden administration gave it some real recognition that is worth celebrating. Instead of becoming a problem to Bitcoin, Joe Biden became a solution, as he has ordered federal agencies to dig into many of the problems that crypto created as it became more mainstream, including its role in money laundering and terrorist groups.

This executive order signals that at the very least, Biden thinks crypto is a serious and important part of the US economy that have some potential. Hence, he mandated the US financial regulators to update and expand  their scope to address cryptocurrency by studying crypto.

White House now understands that for them to still occupy the number position economically, the US need to have a competitive edge over other countries when it comes to crypto development. Also, US believe that cryptocurrencies could be a very vital tool to gain economic advantage over China

I guess  Bitcoin’s price surged on President  Joe Biden’s executive order.

https://www.vox.com/recode/22969662/crypto-bitcoin-biden-new-executive-order
https://www.cnbc.com/2022/03/09/heres-whats-in-bidens-executive-order-on-crypto.html

The executive order by Biden government is a mere guideline to streamline crypto industry. It doesn't tell or decide anything! I am happy that US government has finally decided to take the crypto money laundering seriously because it is a real threat to the society. With the emergence of privacy focused cryptos, it has become very difficult to catch the financial criminals. The whole NFT market is dominating the laundering market. The faster Biden government understand that, the better!

Crypto will eventually be recognized by all countries. It will take time and it will surely happen! Regulation is inevitable! If we all want cryptos to become mainstream, regulation will be the only way it can happen!

[Kakmakr]

The government is not stupid at all.... they know Russia are using Bitcoin and other Crypto currencies to bypass their sanctions and they are going to use that to "regulate" Bitcoin. (Like 99/11 was an excuse to go to war in the Middle East)

They are also planning to develop a "digital" Dollar and it will be frowned on, if they banned Bitcoin ..just to launch the Digital Dollar in the near future.

You have to evolve with the trends in the global economy and the latest trend is "Blockchain" technologies. 

[oHnK]

The government is not stupid at all.... they know Russia are using Bitcoin and other Crypto currencies to bypass their sanctions and they are going to use that to "regulate" Bitcoin. (Like 99/11 was an excuse to go to war in the Middle East)

They are also planning to develop a "digital" Dollar and it will be frowned on, if they banned Bitcoin ..just to launch the Digital Dollar in the near future.

You have to evolve with the trends in the global economy and the latest trend is "Blockchain" technologies. 

Yup, they made the regulation not because they really care enough with crypto and the movement. The reason of their action because crypto is the only channel transaction which is easy to use and uncontrollable by any government. Dan is one of American who always judge that crypto was created by Putin to beat US and fight what sanction they give to russia. So, after this war happen, his opinion become make sense.

[DapanasFruit]

The whole thing basically boils down to "We'll look into it" or "Watch this space".  It doesn't really mean anything yet, neither good nor bad.  I suspect they're being deliberately vague and perhaps just felt they needed to give the impression they were doing something.  

This executive order is just providing a go signal for agencies of the government to look into cryptocurrency without judging it even before anything comes up on the table. Though it would be good to be positive about it, the crypto industry must be watchful all because in the Biden administration there are many people who never love Bitcoin and cryptocurrency in general. At least here, the Biden administration is avoiding a possible backlash from the industry if it had been otherwise...and at this time it can never afford another problem just as his administration is facing unbelievably mountain of so many challenges. Let's us hope then that what will be the result for the regulatory framework can be acceptable by all parties who are stakeholders of the crypto industry.