Biden to Sign Executive Order on Cryptocurrencies

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Today’s Cryptocurrency Headline

According to Bloomberg, U.S. President Joe Biden will sign an executive order this week on the U.S. government’s cryptocurrency strategy, sources said. The order will direct federal agencies to review potential regulatory changes, as well as the national security and economic impact of digital assets. The White House’s approach to cryptocurrencies has drawn renewed attention in recent weeks after the U.S. and its allies imposed sanctions on Russia, raising concerns that organizations and individuals could use cryptocurrencies to evade restrictions.

BingX’s Bitcoin Chart

Source: TradingView& BingX

Chicago-based trading giant DRW Holdings plans to launch a bilateral cryptocurrency options contract product. This product will improve hedging strategies for traders and investors. As a result of the volatility surrounding the war in Ukraine, Bitcoin was trading below the $40,000 price level on Tuesday. The near-term resistance is at the 20-day exponential moving average ($39,946), and if the buys can push the price above this level, we could see that the price could attempt to break the $46,000 price level again.

 

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