(Department of Treasury) Bitcoin rose past the $41,500 level on Wednesday after US Treasury Secretary Janet Yellen lauded President Joe Biden’s crypto executive order.
Yellen said that the expected executive order on crypto will promote responsible innovation and enhance consumer protection.
The remarks by the Treasury boss also revealed that the executive order emphasized a coordinated and comprehensive digital asset policy approach.
Other issues addressed by Biden’s executive order include risks relating to illicit finance and the prevention of threats to the economy.
Markets warmed up to the Treasury boss’s statements, erasing fears over the potential crypto crackdown. The remarks were also welcome, given that Yellen has in the past been somewhat anti-crypto.
Yellen now says the Treasury Department will coordinate with other agencies to produce a report on the future of money and related infrastructure.
The remarks by Yellen are now expected to calm the market further even as investors speculate that Biden’s executive order on crypto could come as soon as this week.
BTCUSD is up +8.84%, ETHUSD is up +6.96%.
