BIDEN PLANS TO SIGN CRYPTO EXECUTIVE ORDER THIS WEEK

So it looks like President Joe Biden is gonna sign an executive order this week that lays out how the U.S. plans to handle cryptocurrencies, based on what some insiders are saying. Do you think this move will eventually pave the way for the necessary legislation to get the ETF approved? Anyone got more info on this?

Is ETF really needed? I don't think so! But auch kind of executive order will pave ways for multiple things. Some are positive like ease of crypto related business, legal framework for crypto holders etc. But some will be negative like increased involvement of tax authority, enforcement agencies, Anti money laundering committee etc. So the possibilities are endless! But it is worth seeing which way it flows into. ETF is a very insignificant matter unless that ETF is backed by physical cryptos.

in my opinion it would only be beneficial if it were some bill and that bill was passed in the senate or parliament (I don't understand well about how the US system works in terms of passing laws), so I see this movement of Biden will only make them pay more attention to the locks that people do and not to promote laws that benefit people who use bitcoin, I don't see anything advantageous in this news, maybe I'm missing something, as I'm not a US citizen, I can unless I'm not seeing this movement well and US citizens can see some benefit So many times the SEC has postponed, I think people have given up hope of seeing an approval so soon.

Perhaps they just included it in the EO so that if they decided to approved it in the future, they have this fall back. But I do agree that the hype of this ETF has died down already and investors are not going to look at it as something of a big catalyst anymore. I think the EO can be interpreted in many ways, tax, having their own CBCD, chase and litigate those scammers and bring them to justice etc. etc..

Obviously yes this actually is great, some people might think it's not good for the crypto community or what but I feel the quickly the legislation kicks in. The easier it will be for the big merchant bankers to bring crypto products to mainstream stock market. Not only that the crimes related to cryptos can also be reported now and will be addressed by the correct authorities which have adequate knowledge of the subject. So I think legislation in this way is better.