Attorney Article

Bitcoin Magazine Publishes Stafford on President Biden’s Executive Order on Bitcoin

Bitcoin Magazine

May 23, 2022

Author: Joseph J. Stafford

Joseph Stafford (Partner-Chicago, IL) authored “What to Expect after President Biden’s Executive Order on Bitcoin” for the May 8, 2022, edition of Bitcoin Magazine. Joseph opines that Biden’s recent executive order (EO) on cryptocurrency signals optimism for the currency, but notes that it will not lead to relaxed regulatory scrutiny. Based on developments such as the recent formation of the National Cryptocurrency Enforcement Team by the U.S. Department of Justice, it is clear that there still is concern that cryptocurrency will be used in an illicit manner, and the EO specifically addresses this concern. Ultimately, “the EO opens the door for a constructive approach to thoughtful discourse and regulations by calling for a researched, calculated and coordinated effort to address the nuances of a rapidly growing industry,” Joseph says.

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