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March 20, 2022

The Great 96/97 Moment Of Web3: US President Joe Biden puts out an executive order on cryptocurrencies

Arf's Perspective: US President Joe Biden puts out an executive order on cryptocurrencies that focus on six key areas: consumer protection, financial stability, illicit activity, U.S. competitiveness, financial inclusion and responsible innovation.

This is the answer to the question that every stakeholder in web3 market has been asking for several years: Will the US ban the use of cryptocurrencies? The answer is an unequivocal No, as the US government agencies and the academia are now mandated to put US to the forefront of the web3 revolution.

Since the US owns by far the largest money markets in the world that every other country wants a piece of, as well as the world's current reserve currency, one can only assume that the majority of the world will follow suit as per their own cryptocurrency/web3 stance. As Circle's CEO Jeremy Allaire puts it, this might be web3's "1996/1997 moment", when the whole US government had woken up to the commercial internet.

Read the original post by CNBC here.

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