Biden's executive order is finally out and bitcoin is rallying. Also, inflation expectations ramp higher. godbole17 parikshitm899 report.
Bitcoin consolidated on overnight gains after U.S. President Joe Biden signed a crypto order early Wednesday, directing federal agencies to coordinate their efforts to draft cryptocurrency regulations.
Some analysts were worried that the long-awaited crypto order would announce stricter regulations, given the recent speculation of wealthy Russians using digital assets to circumvent sanctions imposed by the West. While most cryptocurrencies followed suit, privacy coins like monero and zcash backed off from Tuesday's high. Both coins surged over 25% on Tuesday, perhaps due to traders anticipating increased demand for privacy on fears of increased regulation.
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