{"id":10169,"date":"2022-03-09T18:02:55","date_gmt":"2022-03-09T18:02:55","guid":{"rendered":"http:\/\/egrowonline.com\/?p=10169"},"modified":"2022-03-09T18:02:55","modified_gmt":"2022-03-09T18:02:55","slug":"bitcoin-surges-after-biden-signs-executive-order-on-digital-assets","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=10169","title":{"rendered":"Bitcoin surges after Biden signs executive order on digital assets"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p id=\"primary-image-caption\" data-testid=\"primary-image-caption\" class=\"text__text__1FZLe text__medium-grey__3A_RT text__regular__2N1Xr text__small__1kGq2 body__base__22dCE body__caption__3L8vY article-body__primary-image-caption__2qQ2V\">A representation of cryptocurrency Bitcoin is seen in this illustration taken August 6, 2021. REUTERS\/Dado Ruvic\/Illustration<\/p>\n<div class=\"registration-prompt__container__ia3bM column article-body__aside-registration-prompt__100pe\">\n<div class=\"registration-prompt__text-content__1_ijH\">\n<h6 class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_6__1qUJ5 heading__base__2T28j heading__heading_6__RtD9P registration-prompt__heading__1zL6F\">Register now for FREE unlimited access to Reuters.com<\/h6>\n<p><button class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__2ySbK\" type=\"button\"><\/p>\n<p><span class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<\/div>\n<div>\n<p data-testid=\"paragraph-0\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">March 9 (Reuters) &#8211; Bitcoin soared on Wednesday after President Joe Biden signed an executive order that requires U.S. government agencies to assess the benefits and risks of creating a central bank digital dollar and other cryptocurrency issues.<\/p>\n<p data-testid=\"paragraph-1\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">The executive order potentially expands the adoption of virtual currencies in the U.S. financial system.<\/p>\n<p data-testid=\"paragraph-2\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">Biden&#8217;s order will require the Treasury Department, the Commerce Department and other key agencies to prepare reports on &#8220;the future of money&#8221; and the role cryptocurrencies will play. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/biden-orders-government-study-digital-dollar-other-cryptocurrency-risks-2022-03-09\/\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\"> read more <\/a><\/p>\n<div class=\"registration-prompt__container__ia3bM registration-prompt__inline__1zdn0 article-body__element__OOj6H article-body__inline-registration-prompt__39Ed8\">\n<div class=\"registration-prompt__text-content__1_ijH\">\n<h5 class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__1zL6F\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__2ySbK\" type=\"button\"><\/p>\n<p><span class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p data-testid=\"paragraph-3\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">&#8220;With the recent sanctions regime in place as a result of the war in Ukraine, it is doubly imperative that we have a regulatory framework in place for digital assets that counters illicit finance, and prevent risks to financial stability and national security,&#8221; said Michael Pierson, managing partner at law firm FisherBroyles.<\/p>\n<p data-testid=\"paragraph-4\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">The White House last year said it was considering wide-ranging oversight of the cryptocurrency market &#8211; including an executive order &#8211; to deal with the growing threat of ransomware and other cyber crime.<\/p>\n<p data-testid=\"paragraph-5\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">In midday trading, bitcoin rose 9.1% to $42,280, on track for its largest percentage gain since Feb. 28, while smaller peer ether , the coin linked to the Ethereum blockchain network, added 6.3% to $2,740, also set for its best day this month.<\/p>\n<p data-testid=\"paragraph-6\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">&#8220;At 21Shares, we&#8217;ve always believed that the best way to introduce and expose investors to crypto is through a safe and regulated approach,&#8221; said Hany Rashwan, chief executive officer and co-founder of 21Shares, the world&#8217;s largest provider of crypto exchange traded products.<\/p>\n<p data-testid=\"paragraph-7\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">&#8220;Today&#8217;s action will help the U.S. establish itself as a leader in crypto for years to come.&#8221;<\/p>\n<p data-testid=\"paragraph-8\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">U.S. exchange traded funds (ETFs) tracking bitcoin futures that gained regulatory approval late last year also jumped. ProShares Bitcoin Strategy ETF and Valkyrie Bitcoin Strategy ETF <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/companies\/BTF.O\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">(BTF.O)<\/a> surged 9.8% and 10.2%, respectively, in early trading.<\/p>\n<p data-testid=\"paragraph-9\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">U.S. crypto miners that act as a proxy for moves in digital coins also advanced. Riot Blockchain <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/companies\/RIOT.O\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">(RIOT.O)<\/a> soared 11.9% and Marathon Digital Holdings <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/companies\/MARA.O\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">(MARA.O)<\/a> surged 14.6%, while crypto exchange Coinbase Global Inc <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/companies\/COIN.O\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">(COIN.O)<\/a> added 9.4%.<\/p>\n<div class=\"registration-prompt__container__ia3bM registration-prompt__inline__1zdn0 article-body__element__OOj6H\">\n<div class=\"registration-prompt__text-content__1_ijH\">\n<h5 class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__1zL6F\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__2ySbK\" type=\"button\"><\/p>\n<p><span class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p><span class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__default__UPMUu sign-off__text__328ww\">Reporting by Kevin Buckland, Tom Westbrook, Medha Singh, and Gertrude Chavez-Dreyfuss; Additional reporting by Alun John and Lisa Pauline Mattackal; Editing by Sam Holmes, Krishna Chandra Eluri, and Jonathan Oatis<\/span><\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__OOj6H\">Our Standards: <a target=\"_blank\" href=\"https:\/\/www.thomsonreuters.com\/en\/about-us\/trust-principles.html\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">The Thomson Reuters Trust Principles.<\/a><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.reuters.com\/business\/finance\/bitcoin-jumps-after-apparent-yellen-statement-quells-us-clampdown-fears-2022-03-09\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A representation of cryptocurrency Bitcoin is seen in this illustration taken August 6, 2021. REUTERS\/Dado Ruvic\/Illustration Register now for FREE unlimited access to Reuters.com Register March 9 (Reuters) &#8211; Bitcoin soared on Wednesday after President Joe Biden signed an executive order that requires U.S. government agencies to assess the benefits and risks of creating a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[1022,2297,50,271,4174,482,3471,1731],"class_list":["post-10169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-assets","tag-biden","tag-bitcoin","tag-digital","tag-executive","tag-order","tag-signs","tag-surges"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/03\/5GEZARI3NRNM3LPHTNDVSTELGI.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10169"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10169\/revisions"}],"predecessor-version":[{"id":10171,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10169\/revisions\/10171"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/10170"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10169"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}