Biden signs executive order for regulation on digital assets

President Joe Biden has signed an executive order that highlights the US Government's commitment to ensuring that virtual assets and cryptocurrencies will be subject to further compliance measures with appropriate regulations and supervision.

Asset Servicing Times - March 10, 2022

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Commenting on the order, Ganesh Iyer, chief marketing and strategy officer at IPC Systems, says: “Is Biden beckoning the beginning of the end for ‘wild west’ crypto markets? More regulation of digital assets has implications for how institutions engage with the burgeoning asset class.

He adds: “Whatever happens with crypto regulation, these fund managers need to squeeze out every opportunity by utilising networks that provide fast and unrestricted access to the major crypto exchanges. Only time will tell how and when this market will mature. Until that point there is an opportunity now for hedge funds to utilise ultra-low latency networks to make the most of volatile, compliance-light and liquid crypto markets.”