Biden to sign executive order on regulating, issuing cryptocurrency

President Biden is reportedly set to sign an executive order on cryptocurrency this week that will direct several federal agencies to investigate and develop policies and regulations on digital currencies.

The order is likely to be signed Wednesday, according to Reuters, and would be the White House's first step toward regulating cryptocurrency.

It will reportedly outline what the federal agencies, including the Treasury, State and Commerce departments, need to do to develop regulations and policies on the cryptocurrency market, according to The Associated Press.