US President Joe Biden signed a decree on the need to regulate the cryptocurrency market. This document will become a milestone and will stimulate the development of the blockchain industry, says Michael Saylor, CEO of MicroStrategy.
He attended the Miami Bitcoin Conference, which brought together over 25,000 industry supporters. Sailor performed there along with Cathy Wood, another cryptocurrency supporter.
The head of MicroStrategy recalled that his company has been investing in cryptocurrency over the past two years. She currently controls up to $6 billion worth of coins. Saylor said that for the first time in a hundred years, a US president has openly announced the need for a new asset class.
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According to the CEO of MicroStrategy, the blockchain industry will develop at a faster pace if the state creates comfortable legal conditions for businesses and investors.
Cathy Wood, who founded the Ark Invest fund, also welcomes the White House's softening of the stance. She stressed that indeed the attitude of the authorities towards bitcoin is gradually changing.
Another factor signaling a change in Washington's course was yesterday's report by Treasury Secretary Janet Yellen. She stated that the US will support innovation, especially those that will qualitatively change the financial infrastructure. In parallel, the government will implement legislation to ensure market transparency and investor safety.