Biden’s Executive Order: Biden’s executive order does not announce any cryptocurrency restrictions, but it seems to anticipate increased and focused federal oversight of the industry. The language of the order is favorable and the main focus remains on the coordination of many agencies’ efforts to promote a unified national policy. Furthermore, the order seems to predict a future expansion of digital assets to expand financial accessibility and maintain international leadership. Source:
Bitcoin Update: This past week, Bitcoin has been volatile, following news pertaining to the war in Ukraine and Biden’s crypto executive order. On March 4th, Bitcoin lost 10% of its value over two days after concerns heightened over nuclear threats and the heightened war in Ukraine. However, after Biden revealed his cryptocurrency executive order, Bitcoin’s price surged.
International Regulation Featuring Dubai: The Prime Minister of Dubai announced and issued the new crypto law, the Dubai Virtual Asset Regulation Law, on March 9, 2022. This new law will address the protection of investors and will create international standards for cryptocurrency. Furthermore, the law will establish regulations for cryptocurrency businesses. In addition to the new regulation, Dubai is also forming the Dubai Virtual Asset Regulatory Authority, which will be responsible for overseeing the application and implementation of the law. Source: https://finance.yahoo.com/
The Metaverse, Sandbox, Continues to Expand: Announced on International Women’s Day, The Sandbox Metaverse revealed its partnership with the nonfungible token community World of Women in an effort to launch the WoW Foundation. This partnership is intended to drive and increase female education and mentorship opportunities. The two will work together to create interactive experiences in the metaverse. Some of the initiatives include building the WoW Museum on a 2×2 Sandbox LAND, the WoW University, which will provide free online classes on how to get started with Web3, and The WoW Academy, which will function as a mentoring and funding incubator. Source: https://
Goldman Sachs Further Diving into Cryptocurrency: Financial services giant Goldman Sachs is offering clients access to more cryptocurrency investments. Goldman Sachs is partnering with Galaxy to offer clients access to an Ethereum fund issued by Galaxy Digital, as per documents filed recently with the Securities and Exchange Commission. Goldman Sachs clients are eager and looking forward to Spot exposure to Ethereum. Source: https://www.fxempire.
And, that’s a wrap!