Biden Signs Order on Cryptocurrency As Its Use Explodes

The Biden administration views the explosive popularity of cryptocurrency as an opportunity to examine the risks and benefits of digital assets.

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FILE - President Joe Biden sits in the Oval Office of the White House, on March 4, 2022, in Washington. Biden’s trip on Tuesday to Fort Worth, Texas, is personal. It's a chance to talk with veterans and their caregivers and push for more help for members of the military who face health problems after exposure to burn pits. (AP Photo/Patrick Semansky, File)
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This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

WASHINGTON (AP) — President Joe Biden on Wednesday signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should jump in and create its own digital currency. The Biden administration views the explosive popularity of cryptocurrency as an opportunity to examine the risks and benefits of digital assets, said a senior administration official who previewed the order Tuesday on the condition of anonymity, terms set…

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