Biden’s administration has been an outspoken critic of crypto currency and these words now have actions behind them. Biden has signed an executive order to have various government agencies put forth a plan to regulate crypto. The admin is most concerned about consumer protection, national security, and illicit finance. Additionally the explosion in popularity in the industry and the wide array of digital assets is cause for concern because the admin is worried it might be getting out of hand. However, Biden makes it clear they want to maintain an American leadership position when it comes to the growing area of fintech. The director of the National Economic Council and the security advisor see this as a pathway forward to maintaining a leading role in digital assets and the fintech ecosystem.

Finsum: Crypto needs stable regulation; weekly threats coming from global leaders are bad. If this is on that path it's probably a good thing for crypto.