This is a great executive order that is either completely benign or completely awesome and validating for crypto, a "watershed" moment like the one the commercial internet from the US government received in the 1990s
On its own it does nothing but set an aspirational focus for otherwise autonomous Federal agencies, with no specific rulemaking or new change to the regulatory landscape. But it does send the message for all the sectors to stop pretending like its not a thing, when you look at how even Federal Reserve employees were trading crypto while publicly denigrating the concept, and how there is a gullible audience that believed the negative messaging. This message from the very top alters that, and sets the path for a more holistic approach to fostering this technology, even the wild west capital formation on public blockchains.
It's not controlled by the US government. This executive order is pretty much pushing for the opposite, and creating an environment where it is easier to use cryptocurrencies closer to their full potential.
But, let's entertain the scenario you presented, it wouldn't be different it would just be catering to the $2 trillion already within that ecosystem, and if you were paid in crypto you would just be able to use that natively to buy stuff without worrying about getting that onto a debit card or bank account you use your debit card with. It wouldn't be for curious or skeptical people that have been on the sideline for over a decade, whose only potential of participating is signing up to an exchange and purchasing crypto for no reason.
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[ 3.5 ms ] story [ 9.8 ms ] threadOn its own it does nothing but set an aspirational focus for otherwise autonomous Federal agencies, with no specific rulemaking or new change to the regulatory landscape. But it does send the message for all the sectors to stop pretending like its not a thing, when you look at how even Federal Reserve employees were trading crypto while publicly denigrating the concept, and how there is a gullible audience that believed the negative messaging. This message from the very top alters that, and sets the path for a more holistic approach to fostering this technology, even the wild west capital formation on public blockchains.
But, let's entertain the scenario you presented, it wouldn't be different it would just be catering to the $2 trillion already within that ecosystem, and if you were paid in crypto you would just be able to use that natively to buy stuff without worrying about getting that onto a debit card or bank account you use your debit card with. It wouldn't be for curious or skeptical people that have been on the sideline for over a decade, whose only potential of participating is signing up to an exchange and purchasing crypto for no reason.