When Singapore’s Monetary Authority, its one-stop regulator/central bank, started building a crypto framework – the Digital Payment Token license – the industry was excited; investors await Biden executive order. theSamreynolds and JPRubin23 write
Bitcoin was up slightly on Tuesday amid another day of horror and tumult in Ukraine, and economic angst in the world beyond. Jittery investors also awaited a long-awaited crypto executive order on Wednesday by U.S. President Joe Biden that will outline the country's approach to regulation.
"Bitcoin is higher on the day as risk appetite showed signs of life after U.S. stocks had the worst rout in a few years," wrote OANDA Americas Senior Markets Analyst Edward Moya in an email. The U.S., European and other countries, which have condemned the unprovoked invasion, continued to ratchet up economic pressure on Russia. Biden announced the U.S. would ban the importing of Russian oil. The price of Brent crude has soared to $130 a barrel, sending energy prices higher worldwide. The price of a gallon of gas in the U.S. reached an average $4.17 per gallon, an all-time high.