Did Bitcoin Just Hit Critical Mass?

President Biden signs broad executive order laying out national policy for digital assets

The Biden administration just did what I have been predicting it would do by announcing a wide sweeping plan to reign in and regulate cryptocurrency, explore its options in regards to launching a central bank issued digital currency, plus opportunities to position the United States in a leadership position in regards to digital assets. What does this ‘order’ really mean? Most importantly, from my perspective it means cryptocurrency has finally reached critical mass! Enough so that Mashable claims President Biden signed the executive order as a result of FOMO!

Hey, didn’t I publish a story about cryptocurrency and FOMO last week?

Unfortunately, the executive order also signifies that Web3, the metaverse, Decentraland, NFTs and cryptocurrencies will soon fall under government regulation. In my opinion that sort of defeats decentralization, but then I could be talked out of that stance, because I too want to believe that a decentralized world is possible. It is tragic in a way, that so many have to finally accept the reality that has been staring them in the face for the last decade — regulation of their Bitcoin. That party is kind of over.

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Richard Paxton

CEO of the Alacer Group. Sharing the latest news in financial crimes and best practices that enable financial institutions to prevent money laundering.

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