The U.S. president is launching a “whole-of-government approach” to the challenges and opportunities presented by digital assets, focusing on investor protection, financial stability, crime and national security. The U.S. government is also “placing urgency” on the development of a potential central-bank digital currency. (The Logic)
Talking point: Given the sector’s US$1.9-trillion market cap and increasing role in major geopolitical events like the Russian invasion of Ukraine, crypto has officially become too big for governments to ignore. Calgary Conservative MP Michelle Rempel Garner has put a private member’s bill forward that would require the finance minister to conduct a similar review of the sector, albeit with a focus on industry consultation and encouraging growth. Bitcoin was up on the announcement of the U.S. executive order.