Lark Davis shared: Biden is going to issue his crypto executive order next week. Will it be bullish or bearish?

Community Response:  I don’t think so, but it is highly likely. A lot of chatter today about a crypto Executive Order. DC folks tell me it won’t drop anytime soon—probably early March. Also “Executive Order” sounds dramatic but Biden can’t do much other than tell agencies to develop policy Real action will remain with Treasury, OCC, Fed.

We have hundreds of conversations with pension funds, family offices, and large banks about Bitcoin and crypto. All of their employees are privately invested. Many are waiting for regulatory clarity to pull the trigger. – FTX President. Bitcoin.

Bearish at first because people make a big deal out of everything, then bullish once some other news article catches the market’s attention (squirrel!). Long-term bullish as it will help institutional investors get the avenues/warm and fuzzy feeling they need to directly dive in.

He better hope it’s bullish otherwise he’s gone in 2 years and all the Democrats running in the midterm elections in November are gone this year. It’s a massive mistake to be the party that’s against crypto.

Doesn’t matter. If the price drops consider it a gift. We know countries are starting to fight over getting their hands on bitcoin. Price long-term will skyrocket.

Given the perfect record of failure, this admin has reached could not possibly be anything good.

It will reflect Gary Gensler’s comments. For 99% of the unregistered securities, it will be lethal, and Nakamoto’s innovation; BTC, LTC, and Doge will be bullish.

Bearish short-term. Bullish long-term.

Focus on what to do in the short term.

Buy more bitcoin. Works in all time-frames.

Bitcoin holds the market is currently unstable.

Well, it will be bearish if people don’t educate themselves on this topic.  Reportedly, he will direct agencies across the government to study cryptocurrency and then later down the road come up with a government-wide strategy.

As good logic as ever.  An old white guy telling us what’s good for crypto not too optimistic.

Probably, bearish short-term until they figure out how to “tax it” properly. I do believe and think they understand that it’s the future. They just want to get a cut somehow.

Here is the only point to all of it – Govt wants only 2 things from you control and taxes.

Bearish. These politicians don’t like that the sheep might have an opportunity.

I think it will be bullish. Biden’s government has appointed Garrigan Schiller, a former Goldman Sachs banker, and former CFTC chairman, to lead the financial policy transition team.

That’s a contradiction then. Definitely won’t be bullish. I mean, this is the party of big suffocating government and bloated bankers.

Ultimately bullish. Regulatory certainty and investor protection will give crypto the needed imprimatur of legitimacy. Legit protocols will become more valuable. There is no way that 17,622 crypto coins are all equal.

Great point, is there a list of all ‘coins’ that are likely to be compliant with potential new regulations? These could all boom.

Unless he wants to just hand the midterms to the Republicans, it’ll be overall bullish. I think regulation – if done right, which I realize is a big caveat – will create mass adoption, as so many investors feel unprotected investing in crypto in its current state.

He will just steal the election again.  Crypto, in the long run, doesn’t care. But it’s good that they are at least giving us a framework to move on.  It’s not going to matter anyway because it may take years to implement it. In the mean-time, vote for a president who is Pro-Crypto.

And worthless – can’t impose anything on my cold storage holdings – my crypto doesn’t live in the USA or anywhere else. It travels with me in the crypto community and can easily live off the grid.  Smart governments would think and embrace – not fear Trade Fi. Crypto GTMI.

We need merchants, retailers, and business owners to start making real inroads into accepting payments or everything you describe will not come to fruition.