Earlier this morning, someone in the White House Staff made a mistake, they posted on the finished executive order of Joe Biden regarding cryptocurrency. Most people that I have spoken to in the space seemed to be positioned defensively, which is prudent when you have uncertainty surrounding pending litigation. But if there is one thing I have learned in my time trading stocks, is the market rewards and loves certainty, even if its bad news, when the bad news is not so bad as the market had feared for example. This is not one of those times, this is unambiguously good news for all cryptocurrency investors, proponents, developers involved in every blockchain in every ecosystem that is based in the United States.

Link to White House Press Release White House Press Release March 9, 2022

Key Points

(All Quotes from the Official Press Release found Here)

"That is why today, President Biden will sign an Executive Order outlining the first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology. The Order lays out a national policy for digital assets across six key priorities: consumer and investor protection; financial stability; illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation."

• What is good about this approach taken by President Biden is this aligns all agencies of the government under the same blanket directive, this is key these days because the US Government is compartmentalized in different departments and if you have the Treasury Department, SEC, IRS, CTFC all operating under different plans and congress tells the Federal Reserve to do a completely different thing, you can see how government can be so ineffective at times. With this approach, we have all of these departments aligned, and I think we have a good message they are following, its an exploratory message to learn and move forward.

"Explore a U.S. Central Bank Digital Currency (CBDC) by placing urgency on research and development of a potential United States CBDC, should issuance be deemed in the national interest. The Order directs the U.S. Government to assess the technological infrastructure and capacity needs for a potential U.S. CBDC in a manner that protects Americans’ interests. The Order also encourages the Federal Reserve to continue its research, development, and assessment efforts for a U.S. CBDC, including development of a plan for broader U.S. Government action in support of their work. This effort prioritizes U.S. participation in multi-country experimentation, and ensures U.S. leadership internationally to promote CBDC development that is consistent with U.S. priorities and democratic values."

• Here we finally have certainty and alignment with the Federal Reserve which has been exploring the idea of a central bank stable dollar currency, this is great and officially legitimizes that cryptocurrency has been adopted by the dominant financial groups on the planet officially. IF you would like to peek into the mind of one of the Federal Reserve Governers and his recent speak regarding cryptocurrency please check out the speech at the Federal Reserve's website Here

Good things are coming.