OK, I read it. Here’s my quick take on the executive order.
Over the past couple of weeks, we’ve seen a variety of politicians, media, and consultants (who are often former officials from two or three administrations ago) drive a narrative that crypto is not just useless but dangerous and should be seriously restricted.
In the background of this narrative fog, you could find statements from the professionals at Treasury and the White House on the front lines of crypto issues consistently saying that while it presents certain risks, they can be mitigated and that the tech holds great promise.
Well, the EO is just further affirmation that when serious officials take a sober look at crypto, the reaction is not to light their hair on fire, but instead to recognize it as a innovation that the U.S. will want to foster and lead while mitigating obvious risks.
The message I take from this EO is that the federal government sees cryptocurrency as a legitimate, serious, and important part of the economy and society, and I think it’s a good signal to serious people who’ve been holding back from getting involved.
The EO also presents another striking contrast with alarmist politicians and media in that it is ultimately a call for further study and deliberate planning, not a reactive rush to legislate or regulate.
If there’s anyone who should not abide by the motto “move fast and break things” it’s Congress.
So, Coin Center looks forward to engaging with the various agencies now tasked with studying and planning on the issues we’ve spent nearly a decade working on, as well as engaging with thought legislative proposal from serious leaders in Congress.
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