The Biden administration’s long-awaited executive order for government agencies to take a closer look at issues surrounding the crypto market is being celebrated by industry participants despite it lacking a clear path on possible regulation.“The executive order is quite vague. They still talk a lot about the need to keep restrictions on this asset class,” said Matt Maley, chief market strategist at Miller Tabak + Co., said. “However, it is still the kind of signal that the Washington, D.C., establishment is becoming more comfortable with cryptos and that is bullish.”Bitcoin rallied as much as 11% on Wednesday. Ether, the second-largest token, gained more than 8%, while so-called altcoins also rallied. The advance is in line with other risk assets, like stocks, which have been under pressure amid the fallout from Russia’s invasion of Ukraine.
Load More
Load More