The dilemma facing cryptocurrency

A White House executive order to lay out a national policy for digital assets should help boost credibility for cryptocurrencies, but concerns that decentralised finance technology can help evade sanctions still lingers for policymakers and investors.

Cryptocurrencies received their biggest endorsement after the White House signed an executive order calling for a federal strategy to better oversee digital assets earlier this month. The announcement also calls on the Treasury Department and other agency partners to assess and develop policy recommendations for financial markets.

Major digital assets like Bitcoin have followed world markets lower for 2022, moving in lockstep along traditional investments such as equities. New custodian services and an expanding talent pool of crypto analysts has helped institutional investors to increase their exposure to the assets, albeit at nascent levels.

While cryptocurrency’s market cap quickly returned early gains following the White House’s...

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