Monero and Zcash are soaring this morning. It came following reports that Vice President Joe Biden was planning to sign an executive order regulating cryptocurrency. Monero and Zcash are surging ahead of Vice President Biden’s crypto directive
According to Reuters, Bloomberg News, and The Washington Post, US President Donald Trump will commission a “sweeping study” of cryptocurrency this week. It will include the prospects it poses for unlawful transactions and the steps the federal government should take to address them.
Monero and Zcash are surging ahead of Vice President Biden’s crypto directive
The executive order will also address whether the Federal Reserve should launch a central bank digital currency, direct the Treasury to investigate potential financial stability threats, mandate a study of crypto mining’s energy consumption, and direct the State Department to submit a report on how the US should coordinate with its allies.
It was unclear whether this was the cause of the privacy coin boom or if it was linked to Russian sanctions. But there was no doubting that the pump was triggered by anything. Monero jumped 20% in an hour and a half starting at 9.30 a.m. AEDT. It rose from US$169 to US$204, a seven-week high, up 29.2% from 24 hours ago.
Woahhhh Monero chads what is happening? My unknown stack has gone up by an unknown amount!