There are two big announcements expected by Joe Biden, but one is getting all of the attention and the other is going almost unnoticed amid the constant bombardment of Russia / Ukraine media.
We are expected to hear Biden announce that we are moving off of Russian oil. That is a big deal and will will have ripple effects throughout the world.
Unfortunately it seems that our allies are not in the same position and they are still relying on Russia’s energy.
The other big announcement that isn’t getting a lot of press is the executive order to provide oversight to cryptocurrencies.
The crypto markets have been expecting something from the White House for over a year now.
The oversight is expected to give federal agencies the ability to start figuring out how to integrate, govern and stop criminal activity on the new blockchain technology.
Crypto markets, like most financial markets are down right now.
There is uncertainty around regulation that needs to be cleared up in order for this emerging industry to bloom.
Many crypto fans are hoping that Biden will use his executive order to improve the outlook for crypto. We’ll see what he does.