Biden's executive order boosts prospects for cryptocurrency
CBSN
When President Joe Biden signed an executive order aimed at cryptocurrency this week, it marked a pivotal moment in the history of digital currencies, taking bitcoin, ethereum and other crypto tokens a big step closer to someday becoming a legitimate financial option for all Americans, one industry observer told CBS News.
"Joe Biden just gave crypto companies the green light to exist," David Wachsman, the CEO of Wachsman PR in New York, told CBS News Streaming. "What they have to do now is behave responsibly."
Under the executive order, Biden directed the U.S. Department of Treasury and other federal agencies to study the impact of cryptocurrency on financial stability and national security. The order also asked the Federal Reserve to explore whether the central bank should create its own digital currency.
