A Cornell professor says Biden's executive order could benefit the crypto industry. 'Ultimately what these sorts of regulations provide to the industry is legitimacy.' cryptocurrency bitcoin
on the regulation of cryptocurrencies Wednesday. The professor explained that the executive order basically “tasks various U.S. agencies and institutions” to come up with a “comprehensive plan for the regulation of a broad set of digital assets, including decentralized cryptocurrencies such as bitcoin, but in addition, stablecoins. It also explores the prospect of launching a digital version of the U.S. dollar.
Moreover, the professor detailed: “You have financial stability risk as well, including from stablecoins, which might seem like the safest of instruments but are beginning to essentially function like unregulated money market mutual funds.”
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