Biden to issue crypto executive order amid fears of Russia evading sanctions

President Joe Biden is reportedly expected to sign a long-awaited executive order this week outlining the government’s strategy on cryptocurrencies as concerns rise about Russia’s use of digital currencies to evade sanctions.

The order, which has been in the works long before Russia’s invasion of Ukraine, sets a 180-day deadline for a series of reports on “the future of money,” which are expected to describe what government agencies, including the Treasury Department, need to do to create policies and regulations on digital currencies, Reuters reported.