Joe Biden To Sign Executive Order on Crypto This Week: Report

The US president will reportedly sign a long-anticipated executive order directed toward furthering crypto regulation in the country


President Joe Biden | Source: Shutterstock


key takeaways

  • While the order is not yet fully understood, it has been speculated that an individual authority will be given new regulatory oversight powers
  • Crypto regulation in the US has slowly ratcheted up in recent years, with greater reporting requirements placed on exchanges

President Joe Biden is reportedly preparing to sign an executive order on cryptocurrency policy this week, according to a report by Reuters on Monday, which cited a person familiar with the matter.

The order, which may seek to appoint an individual with regulatory authority to oversee the crypto market, could come as early as Wednesday, per the report.

Jurisdiction of digital asset market oversight continues to burn in the minds of regulators eager to close the gap on what they perceive as trading activity occurring outside their remit.

Last month, Commodity Futures Trading Commission (CFTC) chair Rostin Behnam told a Senate committee hearing his agency wanted to be charged with regulating the crypto spot market.

During that hearing, Benham was asked whether a lead agency for regulating crypto should be established and said that his agency, along with the Securities and Exchange Commission, should share the responsibility.

It’s been speculated — particularly by Michael Fasanello, director of training and regulatory affairs at Blockchain Intelligence Group in January — that a new individual would be given oversight powers over multiple partner agencies.

Those agencies include the CFTC, the SEC, the Financial Crimes Enforcement Network and the Office of the Comptroller, according to Fasanello.

Some, though, including SEC Commissioner Hester Pierce, have said adding a new regulator to the mix in an already “fragmented regulatory system” for financial products should not be a top priority. 

Crypto regulation in the US has slowly ratcheted up in recent years, with greater reporting requirements placed on exchanges as well as scrutiny of stablecoins, whose value is generally pegged to fiat currency or commodities.

Last year, the Treasury Department pushed out a requirement for individuals to report transactions in crypto exceeding $10,000 or more to the Internal Revenue Service.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png


Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.



Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space


Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?


Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month


It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet


Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend


Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million