Biden just put out an executive order on cryptocurrencies — here’s everything that’s in it

The crypto market got wind of the executive order overnight after the Treasury accidentally put out a since-deleted statement calling it “historic” and releasing some of the details ahead of time.

The order was finally signed Wednesday. It calls on federal agencies to take a unified approach to regulation and oversight of digital assets, according to a White House fact sheet.

https://www.cnbc.com/2022/03/09/heres-whats-in-bidens-executive-order-on-crypto.html

Golly, looks like Biden is attacking non state sponsored asset markets. It's just for the revenue, right? Laughable. What Biden really intends here is to punish folks for trying anything to untie their asset value from his feckless monetary policy and drunken sailor spending, inflation, and dollar devaluation. At the same time, it seems that the concept of veracity is in the cross hairs, as authenticity of assets is something ol Xoe and Yellen believe only a nation should provide.

This is big government coming after the little folks. Again, and again. Relentlessly shredding your civil rights and privacy to suck every last schedule from you, regardless of legality or constitutionality.

Oh, and he wants the US dollar converted (read significantly devalued) as a digital currency as well. I think one of his communist treasury hacks was grilled in the senate over this BS. She seemed to believe that only government should be the arbiter of value too.. And the rest of the world hung on the horror happening in the Ukraine, Xoe snuck this one out. Courts will now have to slap his over reaching hand back. Xoe believes himself to be a petty little dictator now. As he can't rely on the people's representatives to give him the power that he so covets.

When you start comparing a Biden to a Putin, you don't see a lot of daylight anymore. Well, we do know that Biden is just the compromised version of Putin, so should we really be surprised anymore?

 

The devil will be in the details.

There are some (seemingly) legitimate reasons to regulate the sale of financial products. But if course this regulation can also open the door up to abuse.

And it may indeed be that the primary motivating factor behind the scenes for this regulation is to make it difficult for people to try to convert their dollars into alternative currencies, which would only push the value of the dollar down more and not make the inflation numbers look good for the Democrats.

The Democrats still have a spending problem, but are looking for any other strategies to reduce inflation that don't involve having to stop printing more money.
Go back to Roosevelt and look at all the restrictions they placed on the economy to try to be able to print more money while trying to take away any escape. (Like making it impossible for savers to convert money into gold)

 

And notice how the media tries to put a positive spin on every new controversial government policy or legislation. As if no reasonable person could possibly think it was a bad idea.


Current US laws already apply to Bitcoin, and there have been several instances of people charged with fraud.

 

Your linked article says Biden is having various department LOOK INTO the impact of digital coin on the economy and STUDYIMG ways to
make transactions safer for consumers. I do see much in the way of actual actions - just studies at this point.

So I'm going to have to rate this ...

 

Well we all know the government hates competition.

It hates the very thought that people might start assigning value to something other than their fiat currency.

I have the same amount of money in the bank roughly as I did a year ago for example, of course I have a little more after a year but I digress.....

My same amount of currency in the bank is losing its value by the day. So why wouldn't people look for something that's prone to hold his value better?


Sarcasm alert.... I just love working for wages that sit in the bank and lose their value just sitting there....

 

Nothing wrong with crypto, hard to beat gold buried 8 feet under the dirt in a remote location.

 

Alaska?

 

I agree. It appears, at least to me, and well, lots of others, that this is the US government simply taking wealth from folks. Which is why, ultimately, this EO won't pass constitutional review. But until someone with enough vested interest wants to adjudicate this, the case won't have standing. For folks who wanted safety, anonymity, that might be a hard sell.

I have no doubt that what Biden et al are attempting to do is destroy the idea of value by attacking the technology behind the ledgers. And we know governments are greedy. They can't stand the idea that folks created wealth that they can't attach through taxation to allow them yet more perks and graft to their donor classes.

 

Funny, I laughed... at the picture. That's a keeper for sure. The source was CNBC, did you expect them to be critical? Why would you think that Biden wants folks transactions to be "safe" and what does that mean to you?