Payments Dive Quotes Ian McGinley on Biden Crypto EO
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Payments Dive, in its article “Biden's digital asset order may prompt legislation,” quoted Akin Gump white collar defense and government investigations partner Ian McGinley on President Joe Biden’s March 9 “Executive Order on Ensuring Responsible Development of Digital Assets.”
One aspect of the E.O. that struck McGinley, the article notes, is that it directed government agencies to look into issuance of a digital dollar. Serious consideration of a digital currency, said McGinley, “is a huge endorsement of crypto and its pervasiveness in our economy and country.”
McGinley also noted that the E.O. focused on protection of investors and national security interests, but also showed “that the protection piece and the promotion piece can coexist.” He said that it calls on the United States to work to become a blockchain technology leader and to promote financial inclusion through crypto system access.