Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 54.76% of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
Important Notice - Fraud awareness
Important Notice - Scam alert
54.76% of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Important Notice - Fraud awareness
Important Notice - Scam alert
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 54.76% of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
Important Notice - Fraud awareness
Important Notice - Scam alert
The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
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US President finally speaks on Cryptocurrency - Relaxes any crypto ban

The long-awaited executive order from the US president to determine the future of cryptocurrencies across the globe had come out softer than expected last Wednesday with an order merely calling for caution and conscious awareness of risks involved rather than placing a ban on it.

During the session on Wednesday, U.S. President Joe Biden had signed a first-of-its-kind executive order on cryptocurrencies, directing federal agencies to coordinate their efforts at drafting cryptocurrency regulations.

However, this executive order did not lay out specific positions the administration wants the agencies to adopt, nor impose new regulations or ban on the sector. At best, the order did not announce any new regulations for cryptocurrency companies to abide by.

Nonetheless, the executive order had charged the Treasury Department to create a report on the “future of money,” including how the current financial system might not meet consumer needs.

Following the report: “the whole-of-government” these efforts to regulate the crypto industry focus on consumer protection, financial stability, illicit uses, leadership in the global financial sector, financial inclusion and responsible innovation, according to a fact sheet accompanying the order.

This report had further defined six “key priorities” for the administration: protecting U.S. interests, protecting global financial stability, preventing illicit usage, promoting “responsible innovation,” financial inclusion and U.S. leadership, according to a fact sheet shared with reporters.

It is also interesting to note that more than 40 million Americans, or 15% of the total U.S. population, have reportedly invested in or are trading cryptocurrencies.

Following this, The President's executive order has put forward "a holistic whole-of-government approach to understanding not only the macroeconomic risks but also microeconomic, with the risk to each individual, investor and business that engages with these assets,” the official said.

The Crypto market initially responded positively to this news on the eve of the report delivery on Tuesday amidst allegations of a leak. Thus we saw Bitcoin prices hit 42K before the current retracement that has taken BTC prices back below 40K.

Last Updated: 11/03/2022

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.


 

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