The United States could become the cryptocurrency capital if the executive order recently signed by Donald Trump moves forward successfully, with the help of David Sacks, an expert in AI and crypto assets.

In a statement, the White House indicated: “The growth of digital financial technology in the United States should not be hampered by restrictive regulations or unnecessary government interference.”

The legal instrument signed by Trump authorizes the creation of a task force in these disciplines, with a deadline of six months to make recommendations to the president.

On the other hand, the executive order “prohibits the establishment of a central bank digital currency (CBDC) and revokes a measure by the administration of former President Joe Biden, which suppressed innovation and undermined America’s economic freedom and global leadership in digital finance.”

M.Pino

Source: elnacional

(Reference image source: Ewan Kennedy on Unsplash)     

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Donald Trump wants to make the United States the cryptocurrency capital apareció primero en Bitfinance.

Tik Tok has a new 75-day grace period thanks to an executive order signed on Friday, April 4, by US President Donald Trump.

The ban on the video platform was scheduled to take effect on Saturday, April 5, but the president rushed to sign the new executive order, which gives TikTok more than two months’ notice, anticipating that a commercial solution for its operation would be found during that time.

The main objective of this extension appears to be geared toward “negotiating a sales agreement with its Chinese parent company, Bytedance.”

Regarding the executive order signed by Trump, it has been stated: “The agreement requires more work to ensure all necessary approvals are signed.” Trump emphasized that his desire is not to eliminate TikTok and that they hope to reach an agreement with China on this matter.

In any case, “Washington is demanding that TikTok sever its relationship with ByteDance, understanding that it represents a threat to national security, as American user data could be compromised and end up in the hands of the Chinese government.”

M.Pino

Source: americaeconomia                                

(Reference image source: Mariia Shalabaieva on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Trump delays TikTok ban for another 75 days apareció primero en Bitfinance.

The transition to digitization of the US Treasury payment system will begin soon, after President Donald Trump signed the executive order for this process.

Digitization is a fundamental factor in increasing the efficiency and transparency of payments. Aware of this, Trump signed the executive order that seeks to “centralize and digitize the government’s financial operations, a step that seeks not only to improve efficiency but also to adapt to global trends toward financial digitization.”

Faster and more secure payments

Soon, Treasury payment processes will be “faster, more secure, and more transparent for all parties involved.” The decision may also have positive effects on “the way financial institutions interact with cryptocurrencies and other blockchain innovations.”

In this context, where adaptability to current developments and needs is crucial, Trump signed two executive actions last Tuesday, March 25, ordering the U.S. Treasury to “use electronic payments whenever possible, instead of paper checks. He also asked the U.S. government to centralize payment processing within the Treasury Department as an additional measure to reduce fraud and waste,” according to Bloomberg.

The Treasury will suspend the paper check mission

It was announced that the federal government will stop issuing paper checks for intragovernmental payments, benefits, vendor payments, and tax refunds, following the White House authorization. Instead, executive departments and agencies will make direct deposits, debit and credit card payments, payments through digital wallets, real-time transfers, and other electronic funds transfer (EFT) methods.

The president is confident that through effective digitization, better control and oversight of transactions will soon be realized.

M.Pino

Source: diariobitcoin

(Main reference image source: Tabrez Syed on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Trump signs order to expedite digitization of Treasury payment system apareció primero en Bitfinance.

Among the new executive orders signed by US President Donald Trump is one that bans the Fed from developing a digital currency, or CBDC, as well as stopping all work oriented towards that end.

Despite being in favor of cryptocurrencies, Trump has banned the Fed from creating a CBDC while he creates working groups to generate proposals to Congress in this field.

Trump seeks to clarify regulations in the cryptocurrency sector, refuting any central bank digital currency that has no justification.

In this regard, the Fed’s ban decree mentions among the president’s priorities “taking measures to protect Americans from the risks of central bank digital currencies (CBDC), which threaten the stability of the financial system, individual privacy and the sovereignty of the United States, including prohibiting the establishment, issuance, circulation and use of CBDCs within the jurisdiction of the United States.”

M.Pino

Source: elpais

(Reference image source: Alex Shuper for Unsplash+)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Trump executive order bans Fed from creating a CBDC apareció primero en Bitfinance.

This Thursday, January 23, the President of the United States, Donald Trump, signed the executive order for the creation of working groups focused on turning the nation into a leader in cryptocurrencies.

Trump, who maintained a reserved attitude towards digital currencies before entering the presidential race, has opted to give full support to cryptocurrencies, especially Bitcoin.

In fact, he recently launched his Trump memecoin, which revolutionized the market and prompted the first lady to do the same with her Melania memecoin.

In any case, the signing of the order “allows the United States to become the center of innovation in digital financial technology by stopping the laws and regulations that have stifled crypto innovation in previous administrations.”

The measure signed by Trump “authorizes the creation of a working group led by the White House czar on artificial intelligence and cryptocurrencies, David Sacks, and which, among other tasks, will evaluate the creation of a national strategic reserve of digital assets.” The appointed group will have a period of six months to make the relevant recommendations to the president.

However, it should be clarified that the executive order “prohibits the establishment of a central bank digital currency (CBDC).” In addition, it revokes a measure of the Joe Biden Administration that “suppressed innovation and undermined the economic freedom of the United States and global leadership in digital finance.”

M.Pino

Source: rtve

(Reference image source: Kanchanara on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada The United States will be the capital of cryptocurrencies apareció primero en Bitfinance.

Asylum seekers in the United States who do not pass the authorities’ strict standards will be deported, according to a new executive order announced this Tuesday by the President of the United States, Joe Biden.

In his presidential election campaign, Biden launched a drastic measure to reduce asylum requests on the border with Mexico.

The order “will allow US authorities to deport those who do not pass strict asylum standards when the figure of 2,500 daily detentions at the border is exceeded for an average of seven days, senior US officials told the press.”

Given that the figure of 2,500 arrests is being exceeded with an average of 4,200 arrests per day that occurred in April, the executive order came into effect this Tuesday. Regarding the protocols for requesting asylum, it was indicated that they will be relaxed again when this number decreases to 1,500 on average over 14 days.

Deportations will be carried out if migrants cannot demonstrate “that there is a reasonable possibility” of risk of torture or persecution if they are returned to their country of origin. U.S. officials have stated that they will adhere to the obligations of the United Nations convention against torture, “which prohibits deporting someone to a country where they may be tortured.”

The situation will vary depending on the nationality of the migrant or asylum seeker. “Those who are Mexicans or nationals of Cuba, Haiti, Nicaragua and Venezuela will be returned directly to Mexico under prior US agreements with Mexican authorities.”

Migrants arriving at the border from other parts both inside and outside the American continent, such as Colombia or Ecuador, will be expelled on deportation flights. There are exceptions: “unaccompanied travelers traveling north are not subject to the restrictions, as are victims of human trafficking, those facing an acute medical emergency or an extreme threat to their life and safety.”

On the other hand, authorities will continue processing asylum cases for people who have requested an appointment through the CBP One mobile application, with an approximate capacity of 1,450 daily appointments to request asylum.

M.Pino

Source: alnavio

(Reference image source: Barbara Zandoval en Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Joe Biden to limit asylum requests on the border with Mexico apareció primero en Bitfinance.

US President Joe Biden has signed an executive order placing limits on US investments in certain Chinese tech companies, a move that could escalate tensions between the two nations. This move, one of the most prominent taken by the Biden administration to restrict investment in China, follows extensive discussions with G7 members, whom he has urged to take similar steps.

The executive order places a ban on US venture capital firms, preventing them from investing in three key sectors of the Chinese economy: semiconductors, quantum computing and artificial intelligence, senior officials said in a telephone press conference.

In addition, it stipulates that US citizens doing business in China must inform the US government about their investments in these three areas. These restrictions are justified by the notable technological advances that China has achieved in these fields and their possible application in military and intelligence capabilities.

The choice of these specific sectors is based on national security concerns, as it is intended to prevent China from using US technologies to modernize its military. Chinese President Xi Jinping is seeking significant progress in social, economic and military areas by 2035, which could pose a threat to US ally Taiwan.

However, the measure will not take effect immediately. There will be a public comment period to receive input from interested parties, including companies with investments in China. The exact details of how the executive order will be implemented are yet to be defined, and criminal charges are being considered for those who do not comply with the regulations. The option to allow exceptions for investments in bonds and shares of Chinese technology companies by US companies is also discussed.

The executive order likely won’t go into effect until next year, coinciding with Biden’s re-election campaign in the presidential election. In parallel, the Republicans have yet to select their candidate in the primary process, in which former President Donald Trump is considered a favorite.

K. Tovar

Source: CNN

(Reference image source: Jon Tyson, Unsplash)

La entrada Biden signed an order limiting certain investments with Chinese companies apareció primero en Bitfinance.

US President Joe Biden will probably sign a long-awaited executive order during the week aimed at promoting the regulation of cryptocurrencies in the country, according to information published by specialized sources.

The information from Bloomberg and Reuters refers to the statements offered by officials of the Biden administration who asked not to be identified, but admitted that the president “would sign an order that will describe the US government’s strategy for cryptocurrencies”.

The legal norm will ask federal agencies to evaluate possible regulatory changes, in addition to analyzing the “national security and economic impact of digital assets”. It is assumed that the order “could centralize all powers of regulatory supervision in a single entity”. However, the scope or what such an executive order would actually mean is unclear.

Crypto market under scrutiny

A regulation of cryptocurrencies has been developing in the US for a long time, but in recent days it has again aroused interest due to the sanctions that the US government together with its allies imposed on Russia for the invasion of Ukraine, generating the concern of some organizations and individuals that Russia could try to “use cryptocurrencies to evade restrictions”.

Acting Director of the Treasury Financial Crimes Enforcement Network, Him Das, noted: “Although we have not seen widespread evasion of our sanctions using methods such as cryptocurrencies, prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people.”

The crypto industry is currently facing intense scrutiny from lawmakers and “Senate Banking Committee Chairman Sherrod Brown over concerns that digital assets could be used to circumvent sanctions.”

On the other hand, the Joe Biden Administration is “under pressure” because industry executives consider that there are no clear rules that regulate the industry and it is urgent that the state assume “a more coordinating role on this asset class.”

M. Rodríguez

Source: diariobitcoin.com

La entrada Joe Biden could sign executive order on cryptocurrencies apareció primero en Bitfinance.

The president of the United States, Joe Biden, would be about to issue an executive order in the coming weeks, which would be directly linked to cryptocurrencies.

According to what was known from sources related to the White House, the measure would come to make improvements in terms of national security and would be based on assignments to some government entities to study the assets.

“This is designed to look at digital assets holistically and develop a set of policies that give coherence to what the government is trying to do in this space,” the source said.

Earlier this week, Forbes reported that those government entities would likely issue reports on their findings in mid-2022 that would look at “the systemic risks of cryptocurrencies and their illicit uses.”

The main label is that of national security, due to the fact that cryptocurrencies move large amounts of money, and the potential of decentralized blockchain technology to circumvent surveillance and specific geographical regulations.

K. Tovar

Source: Cointelegraph

La entrada Biden would dictate a decree related to cryptocurrencies apareció primero en Bitfinance.