Bitcoin Shoots Up After Yellen’s “Leaked” Statement on Crypto Executive Order
Bitcoin (BTC) shot up on Wednesday early morning after U.S. Treasury Secretary Janet Yellen’s prematurely published remarks on President Joe Biden’s impending crypto order. Nothing that the order takes a constructive approach in regulating digital assets, Yellen said in a statement:
“A presidential executive order on cryptocurrencies would ‘support responsible innovation’ as it coordinates U.S. policy across agencies.
Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems.”
Yellen’s statement that was scheduled for release on Wednesday but was made public late Tuesday evening also said:
“The executive order will address risks related to illicit finance, protecting consumers and investors, and preventing threats to the financial system and broader economy.”
Founder of cryptocurrency exchange Gemini, Cameron Winklevoss, took to Twitter about the upcoming clarity in the crypto space:
I applaud this constructive approach to thoughtful crypto regulation and look forward to working together with the various stakeholders to ensure that the US remains a leader in crypto.
— Cameron Winklevoss (@cameron) March 9, 2022
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Yellen’s statement that was posted on the Treasury Department’s website on Tuesday night was taken down shortly after it was published.
Short after the ‘leak’, Bitcoin took off and rose an instant 7% to $41,606.06 and is currently trading at $41,562.17 according to CoinMarketCap.
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Source: igaming
