Greater regulation of digital assets could be coming. On March 9, President Biden signed an executive order (EO) to expand oversight of cryptocurrency markets. The EO also prioritizes the assessment of a Central Bank Digital Currency (CBDC). Various government financial regulators will assess how the “adoption of digital assets” would affect U.S. investors and businesses. Also sought is input as to whether the “risks of digital assets” will require implementation of additional protective measures. Lawmakers haven’t yet embraced the idea of a CBDC where currency is represented by a digital token or electronic record. The topic will be explored in a March 29 congressional hearing. Call or visit our website for more information! www.mjscpa.com/
