The Biden administration\u2019s first decisions and appointments look promising for the crypto industry as a whole so far.<\/p>\n
Shortly after his inauguration, US President Joe Biden and his administration have already made several important decisions that could be considered quite positive for the crypto industry, starting with the postponement of the Treasury\u2019s controversial proposals aimed at self-hosted crypto wallets.<\/p>\n
On his first day in the office, Joe Biden has put on hold all “new or pending” regulatory rules<\/a> until his administration reviews them\u2014including the Financial Crimes Enforcement Network\u2019s (FinCEN) crypto proposals.<\/p>\n In the memorandum, White House\u2019s chief of staff Ronald Klain called agencies to \u201cconsider postponing the rules\u2019 effective dates for 60 days from the date of this memorandum, consistent with applicable law […] for the purpose of reviewing any questions of fact, law, and policy the rules may raise.\u201d<\/p>\n President Biden has frozen all agency rulemaking pending further review. This includes former Secretary Mnuchin's proposal on "unhosted wallets."<\/p>\n We fought hard & earned the right to take a breath & reset. Janet Yellen isn't Steve Mnuchin. I'm optimistic.https:\/\/t.co\/0EAmYhbqa5<\/a><\/p>\n — Jake Chervinsky (@jchervinsky) January 21, 2021<\/a><\/p><\/blockquote>\n\n