US President Joe Biden is expected to sign an executive order as soon as this week which will order federal agencies to analyse what types of regulations should be placed upon cryptocurrencies.
A series of studies by, which will occur over a nine-month period, will also look into the merits of establishing a central bank digital currency issued by the Federal Reserve.
The creation of a fully digital version of the US dollar would have a significant impact on global payments systems and the banking industry allowing the transfer of money by businesses and individual to other parties without the use of a bank account.
