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Biden issues executive order on crypto regulation, stablecoin proposal

President Joe Biden has issued an executive order outlining a host of new potential regulatory policies for cryptocurrency and digital goods. The order urges a centralization of regulatory enforcement, in an attempt to move away from the current patchwork approach, and lays out twin goals of protecting consumers and mitigating the fiscal and human costs of crypto misuse.

Cryptocurrency’s major promise — the ability to securely conduct business without reliance on the financial sector — is widely viewed as a positive thing, but critics have pointed out that it’s a severely underregulated market, and that crypto is all too frequently used for transactions in illegal drugs, weapons, and more.

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Source:: Computerworld