The executive order of the Biden administration on cryptocurrencies has been received very favorably by most analysts and the community, and has also generated a rebound in the value of bitcoin, almost as much for what it says as for what it says. it doesn’t say

The legislation includes a fundamentally cautious but optimistic approach, which not only considers the launch of a digital dollar following in the footsteps of China, but also does so without trying to replace cryptocurrencies as we know them today.

The executive order not only rules out terrifying and perverse interpretations in everything related to cryptocurrencies, but also considers them an opportunity to strengthen what it considers to be the leadership of the United States in the financial field.

The areas included in the text of the order are the security and protection of consumers and investors, financial stability, the possibility that they may contribute to the financing of illicit activities, its impact on the competitiveness of the United States, its effect on financial inclusion and the development of responsible innovation in this area.

In practice, the movement of the Biden administration, after many internal discussions on the matter, comes to be the tacit assumption of the inevitability of a phenomenon, cryptocurrencies, which fundamentally depend on their level of adoption, on the number of people who consider them a useful medium no longer for speculation, but for use as a transactional medium of exchange, once the price discovery phase has reasonably stabilized. Logically, this will entail not only levels of adoption much higher than the current ones, but also a clarification of the market and, possibly, the disappearance of those coins that do not offer a differential value proposition.

What is the important? That in the face of disqualifying visions, homologations with pyramid schemes or tremendous opinions, the North American administration establishes a panorama that not only accepts the existence of cryptocurrencies, but also considers them an important part of the economy for the future. Surely something that can change the perceptions of a significant part of the market, and influence the prospects for adoption – which is what ultimately has value in this case.