U.S. Treasury Secretary Janet Yellen praised President Joe Biden’s executive order regarding digital assets in a statement on the Treasury’s website on Tuesday.
In the statement, which has been removed, Secretary Yellen remarked that it strikes the right balance between fostering innovation and addressing potential risks.
Janet Yellen Accidentally Released a Statement a Day Earlier than Intended
Yellen’s statement ended was released a day earlier than intended due to an error, but was quickly deleted.
Despite its swift removal, the statement was captured on a web archive, and, due to the fact that it was shared early, gave cryptocurrency enthusiasts an early glimpse into the details of President Biden’s soon-to-be-released executive order.
This order called for “a coordinated and comprehensive approach to digital asset policy.” Yellen’s statement expressed that the executive order could “result in substantial benefits for the nation, consumers and businesses.”
The Treasury will also continue to work with investor protection groups, as well as a variety of different experts.
On the Flipside
- The news led to a huge increase in the value of the Bitcoin (BTC) cryptocurrency token, which rose above the $42,000 mark.
Why You Should Care
The intention of the order is to provide a fairer, more inclusive, and more efficient financial system, and will likely contribute towards ensuring that the USD remains a powerful currency for global settlements.