Cryptocurrencies are in focus as US President Biden announces the first of its kind executive order on cryptocurrency.

U.S. President Joe Biden signed an executive order on Wednesday requiring the government to assess the risks and benefits of creating a central bank digital dollar, as well as other cryptocurrency issues.

It directs federal agencies to have a coordinated approach to the sector. What it does not do is it does not lay out any specific positions or regulations on the sector but it is more about a coordinated, comprehensive approach and an oversight on the digital virtual assets here in sense of policy.

It has also eased concerns about any dramatic tightening as of now.

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