Biden is preparing to sign the cryptocurrency decree

In the US, the Biden government is preparing to sign the long-awaited cryptocurrency strategy decree. According to sources familiar with the matter, the decree will task the US Treasury Department and some other institutions with assessing the legal and economic implications of the Federal Reserve's creation of a digital currency.

One of the sources stated that there may be a significant change in the cryptocurrencypolicy within 180 days and said, "This is a step taken by the Central Bank in creating a digital currency."

The White House announced last year that it will take some steps to combat increasing cybercrime and effectively monitor the cryptocurrency market.

Biden's move comes after concerns that Russia will turn to the use of cryptocurrencies to combat Western economic sanctions.

Last year, US Treasury Secretary Janet Yellen warned that the misuse of cryptocurrencies in digital markets poses risks, but stated that new financial technologies will be supportive in some areas, such as fighting crime and reducing income inequality.