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

article-image

President Joe Biden | Source: Shutterstock

share

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.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

tg trading bot report graphic.png

Research

Telegram trading bots have found their primary niche in highly speculative token launches and retail-dominated memecoin markets, with many features specifically tailored to token sniping and copy-trading strategies.

article-image

Ethereum is hoping that increased DA will grow user demand — and its profits through DA fees

article-image

11 years ago, Bitcoin contributors prevented a supply crisis… two centuries from now

article-image

Both samczsun and ZachXBT have issued warnings after the Bybit hack last month

article-image

The investor criticized Michael Saylor’s plan to render his personal bitcoin holdings inaccessible to anyone else forever

article-image

The exchange has structural defenses and protocols to limit manipulations

article-image

Upshift is being spun out of August, which raised $10 million earlier this month