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Wow! Coins across the cryptoverse took off overnight after the inadvertent publication of comments from Treasury Secretary Janet Yellen (see motion below). In a statement that was published on the Treasury website, which has since been removed, Yellen expressed a balanced approach to the development of the crypto sector, as well as a constructive stance on regulation of the industry. The statement will be republished later today, but traders have already made a quick buck from the accidental release.
Abstract: "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. As we take on this important work, we will be guided by consumer and investor protection groups, market participants, and other leading experts. The Treasury Department will work to promote a fairer, more inclusive, and more efficiently, while building on our ongoing work to counter illicit finance, and prevent risks to financial stability and national security."
Some work has already been done to shape government crypto policy, such as last year's stablecoin report from the President's Task Force on Financial Markets. Congressional committees in recent months have also increased cryptocurrency hearings, but the new executive order will coordinate a broader strategy for the nearly $2T crypto market. Treasury will also work with international partners "to promote strong standards and a level playing field."
Large profits: bitcoin (USD-BTC) +8% at $41,791, Ethereum (ETH-USD) +7% at $2,730, Bitcoin Cash (USD-BCH) +6% to $300, Monero (USD-XMR) +23% at $199, Litecoin (LTC-USD) +5% at $106, Land (MOON-USD) +20% at $97.23, Solana (LEFT-USD) +7% at $89.23, Cardano (USD-ADA) +4% at $0.85 and XRP (USD-XRP) +5% at $0.75.
