🇺🇸 Joe Biden Might Be a Crypto-Friendly President

Discover the news of the week [View in Browser]( [Gif Ledger Bites]( 11/03/2022 The New Ledger Nano S Plus Is [Coming Soon]( Bigger Screen. More Memory. The World’s Most Popular Wallet Just Got Better. [Sign up here]( for the waitlist. [LNS Plus]( [Figures] [LUNA]( [Crypto]( Crypto assets can be managed on your Ledger Live! [Go check now →]( [In the know] [The Ukrainian Minister of Digital Transformation thinks crypto has been essential during the crisis.]( “In a situation like this where the national bank is not really operating, crypto is helping to perform fast transfers, to make it very quick and get results almost immediately,” Bornyakov said. [WAVES skyrocketed this week.]( It has risen by more than 45% in the past seven days and… 430% in just three weeks. This spike can be attributed to a migration to Waves 2.0 that implements new governance models. [EBay teases a “Digital Wallet.”]( The company has floated the idea during an investor presentation, during which its CEO Iannone said that eBay is “continuing to look at new forms of payment to add now that we’ve got the rollout of global payments complete.” [US inflation reaches new record highs.]( The consumer price index rose 7.9% over the past 12 months, the highest level since 1982. Will this new record soon impact Bitcoin price and confirm its position as a hedge against inflation? [A crypto fan wins the South Korean elections.]( Yoon Suk-yeol, the country’s next president, has pledged to overhaul excessive national crypto rules to be replaced by a “negative regulation system” to ensure that the crypto market flourishes. [Ethereum fees drop to a 6 months-low.]( This dip is explained by DeFi applications spreading to other networks, transaction activity on layer-2 solutions sharply increasing NFTs transactions dropping in the past few weeks. Wanna share our Biiiiiites with a friend ? [Send →]( [Insight of the week] Finally Good Policy News Across The Atlantic? [BTC President of the US] It was long awaited, and it’s finally here. On Wednesday, US President Joe Biden signed an executive order directing federal agencies to examine regulatory changes, a move he [considers]( a response to “the explosive growth in digital assets.” When the report was leaked, the crypto market saw a steep rise. So, what is this executive order about? Good Regulatory News, At Last? The executive order reflects America’s positioning on digital assets, one that, [according to]( national security adviser Jack Sullivan, “encourages innovation but mitigates the risks.” This executive order plans to give [more consistency]( to the government’s actions and to define federal agencies’ specific roles in this new framework. However, the order doesn’t implement concrete changes, but rather starts a regulatory process. As Seth Hertlein, Global Head of Policy at Ledger, puts it, “it doesn’t do much. It directs the federal agencies to work together on crypto and commissions some studies and reports, which are mostly harmless.” The most important detail about the order is the Digital Dollar, as it reads that the US “places the highest urgency on R&D efforts into the potential deployment of a US CBDC.” In January, the Fed released a [whitepaper]( where it found that a CBDC could make “payments cheaper” but “pose a risk to the stability of the US financial system.” Behind Joe Biden’s Move How to interpret this regulatory move? Does it finally show that the US is open to the crypto ecosystem? The answer is mixed. Yes, this executive order gives Bitcoin and other cryptocurrencies strong recognition. Circle CEO Jeremy Allaire [believes]( the US has understood that “digital assets represent one of the most significant technologies for the 21st century.” However, the devil is often in the details. The order commissions 21 reports, 13 of which focus on enforcement, while 7 deal with CBDC. Only 1 speaks to economic competitiveness. The order implicates 15 executive agencies and invites the participation of 7 independent financial regulators. “Historically, most of these agencies have not been friendly to crypto,” Hertlein added, “so while we can hope the order represents a new approach, we should not assume the agency reports will be positive.” Many crypto advocates feared that the White House would try to delete this industry. It hasn’t happened. Beyond the rhetoric, when will the US take concrete actions, and what will they look like? [I wanna know more] Are CBDCs & Stablecoins still a mystery to you? Our [Ledger Academy article]( is here to provide you with the answers you need. Blockchain might be compared as an “internet of money” paying you to participate. [Click here]( to understand why. [Inside Ledger] You can now Buy & Manage Solana (SOL) through Ledger Live Desktop! Mobile support is coming soon → [More info here](. … And [Cronos (CRO)]( is now also directly available to be managed through the Ledger Live app. It’s 1 app for all your crypto needs! It’s time for everyone to understand. Our New Series [“How I Got Hacked”]( Is Live! Looking for a job at Ledger? [Click here to check our open positions.]( [Images of the week] This Pussy Riot backed NFT Sold for $7 Million. [GIF of the week] Source: [CNNStyle]( How did you like our newsletter this week? 😍 [I buy!]( 😐 [I hodl!]( 😭 [I sell!]( [unsubscribe]( [Ledger]( Follow us on: [Ledger YouTube]( [Ledger Twitter]( [Ledger Instagram]( [Ledger Facebook]( [Ledger TikTok]( & listen to our podcast [here](. This email was sent to you because you signed up at Ledger.com or purchased a Ledger product. We respect your right to privacy. Read our [Privacy Policy]( and [Cookie Policy](. © Ledger SAS 2020. All rights reserved. Ledger brands are registered trademarks of Ledger SAS. Ledger SAS, 1 rue du Mail, 75002 Paris