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Bitcoin and cryptocurrency are considered “a matter of national security” by the White House

The White House has stepped in to help. We began at the bottom and have progressed to the point where we are now “a subject of national security.” The Biden administration, according to Barrons and Bloomberg, is putting itself in the center of cryptocurrency and Bitcoin regulation. According to reports, the White House will solicit input from a number of agencies before drafting a consolidated, all-encompassing policy. After all, it’s “a question of national security.”

The White House, according to Barrons, wants clarity on Bitcoin, “cryptos, stablecoins, and NFTs.” to be more specific

“The Biden administration is preparing to release an executive action that will task federal agencies with regulating digital assets such as Bitcoin and other cryptocurrencies as a matter of national security.”

Bloomberg expands on the concept of the White House and explains how far along the proposal is:

“Senior administration officials have held multiple meetings on the plan, which is being drafted as an executive order, said the people. The directive, which would be presented to President Joe Biden in the coming weeks, puts the White House at the center of Washington’s efforts to deal with cryptocurrencies.”

Both publications refer to “the individuals” or “the person,” and both acknowledge that the White House has declined to respond. However, it appears that everything is fixed in stone. “This is aimed to look holistically at digital assets and produce a set of regulations that lend coherency to what the government is trying to achieve in this domain,” according to a Barrons source. “Because digital assets do not stay in one country,” says the report, “it is vital to collaborate with other countries on synchronization.”

“The State Department, Treasury Department, National Economic Council, and Council of Economic Advisers,” as well as “The White House National Security Council,” are among the agencies involved, according to the journal.

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