Biden signing cryptocurrency executive order that paves way for US government 'coin'

President Joe Biden will sign an executive order Tuesday that moves the U.S. government one step closer toward launching a digital currency tied directly to the central banking system.

“The rise in digital assets creates an opportunity to reinforce American leadership in the global financial system and at the technological frontier, but also has substantial implications for consumer protection, financial stability, national security, and climate risk,” the White House said in a statement. “The United States must maintain technological leadership in this rapidly growing space, supporting innovation while mitigating the risks for consumers, businesses, the broader financial system, and the climate.”