The Clap U.S. President Joe Biden signed an executive order instructing the government to assess the benefits & risks of cryptocurrencies, sending Bitcoin (& other cryptocurrencies) jumping.
Reducing risk The initiative focuses on six factors: consumer protection, financial stability, illegal activity, competitiveness, responsible innovation, & financial inclusion.
The move removes a great deal of uncertainty in the crypto world. But President Biden’s remarks called for an “unprecedented focus” to develop a regulatory framework that comprehensively tackles all six factors mentioned above.
The jump was short-lived Bitcoin (& others) ended up losing most of these gains pretty quickly.