The price of Bitcoin and other cryptocurrencies has surged as the draft executive order from US President Joe Biden got leaked. The leaked draft indicates that President could support the development of digital assets rather than imposing strict regulations.
On Wednesday, the star cryptocurrency Bitcoin was up 8% over the past 24 hours, according to the data from Coinsdesk. Another cryptocurrency, Ether from Ethereum Blockchain was also 6% up pricing at $2750.
Bitcoin is currently trading above $42k.
Bitcoin surges up:
Biden is expected to sign a much anticipated executive order outlining regulations about Cryptocurrencies this week. The draft executive orders inadvertently got leaked by Treasury Secretary Janet Yellen and appeared online. It soon got removed but indicated that President could be supportive of digital assets. As soon as the news came out, Bitcoin and Ether spiked 8% and 6%, respectively.
Treasury Secretary Yellen stated that executive order” calls for a coordinated and comprehensive approach to digital asset policy.”
Biden Executive orders look to address the lack of proper framework and guidelines to regulate cryptocurrencies in the country and to protect business, American consumers, and US financial system.
The executive order is broadly applauded by the crypto community all over the world.
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