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
  • 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:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

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

Research Report Templates (1).png

Research

Aave’s revenues have doubled from April lows and are fast approaching all-time highs. With 35% of borrow interest coming from ETH and 55% from stablecoins, Aave is emerging as a powerful proxy as an ETH and stablecoin beta. As looping strategies accelerate growth and Horizon positions the protocol to ride the RWA wave, Aave is shaping up as one of DeFi’s most compelling multi-narrative plays.

article-image

Private testnet aims to deliver low-cost settlement with partners including Visa, Deutsche Bank, and OpenAI

by Blockworks /
article-image

Solana saw $78 million in REV for August

article-image

Lit Protocol’s Vincent is shifting agentic finance from toy demos to production rails

article-image

The new system aims to unify Europe’s fragmented tokenized asset settlement and cut cross-border costs

by Blockworks /
article-image

Tron slashed fees by 60% as Plasma looms, threatening its USDT moat

article-image

The acquisition adds evaluation-based funding to Kraken Pro, giving traders access to capital on performance

by Blockworks /