Treasury Secretary Janet Yellen accidentally spilled the beans on President Joe Biden’s crypto Executive Order (EO) last night.
This saw Yellen post a statement about the crypto EO to The Treasury Department’s website last night. The statement has since been pulled but it’s worth noting that it was dated March 9.
Of course, this is the age of the internet, so nothing stays gone. The statement is still available thanks to the Internet Archive’s Wayback Machine. Here’s a portion of what Yellen had to say about President Biden’s upcoming EO.
“Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems. We’ll also convene the Financial Stability Oversight Council to evaluate the potential financial stability risks of digital assets and assess whether appropriate safeguards are in place. And, because the questions raised by digital assets often have important cross-border dimensions, we’ll work with our international partners to promote robust standards and a level playing field.”
The statement goes on to list out who else The Treasury Department will be working with as part of the EO. Among them are the President Biden’s Working Group on Financial Markets, the
Federal Deposit Insurance Corporation, as well as the Office of the Comptroller of the Currency.
Yellen closes out her statement on the Biden crypto EO as such.
“Treasury will work to promote a fairer, more inclusive, and more efficient financial system, while building on our ongoing work to counter illicit finance, and prevent risks to financial stability and national security.”
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.