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The prices of many altcoins were rising high on Wednesday in a widespread rally emanating from the top down. The top, in this case, is President Joe Biden, who signed an executive order on cryptocurrencies that really gave some zip to the asset class.<\/p>\n
It was hard to go wrong today with crypto holdings. Cardano<\/strong> (CRYPTO: ADA)<\/span> and Solana<\/strong> (CRYPTO: SOL)<\/span> were both up by over 5% as of mid-afternoon trading, while Polkadot<\/strong> (CRYPTO: DOT)<\/span> lagged slightly behind them. Enjoying higher pops were Arweave<\/strong> (CRYPTO: AR)<\/span> and Near<\/strong> (CRYPTO: NEAR)<\/span>, both of which were inching toward a 17% gain. <\/p>\n Citing statistics showing that roughly 16% of adult Americans have transacted in cryptocurrencies<\/a>, the White House wrote in a fact sheet that it was taking \u201cthe first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology.\u201d<\/p>\n The Biden administration pledged to work with the relevant government agencies to create policies \u201cthat guard against risks and guide responsible innovation.\u201d Interestingly, one of its priorities is to explore the possibility of creating a central bank digital currency (CBDC).<\/p>\n Image source: Getty Images.<\/p>\n Certain investors aren\u2019t fond of what they consider to be excessive regulation and oversight, but generally, such initiatives are seen as positive developments. Much of the cryptocurrency space is still a Wild West, and a sober analysis from third parties like federal government agencies should lead to risk reduction and tighter security for investors \u2014 assuming that the coming recommendations are sensible and lead to beneficial policy changes and actions.<\/p>\n Keep an eye on this space to see how the government\u2019s initiative develops.<\/p>\n 10 stocks we like better than Cardano<\/strong> They just revealed what they believe are the ten best stocks<\/a> for investors to buy right now\u2026 and Cardano wasn\u2019t one of them! That\u2019s right \u2014 they think these 10 stocks are even better buys.<\/p>\n See the 10 stocks<\/a><\/p>\n *Stock Advisor returns as of March 3, 2022<\/span><\/em><\/em><\/p>\n Eric Volkman<\/a> has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy<\/a>.<\/em><\/p>\n The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.<\/p>\n<\/div>\nSo what<\/h2>\n
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