Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Biden to sign executive order on crypto, authorize all-government effort to consolidate regulation
While many in the crypto community previously feared the worst regarding regulation, President Joe Biden on Wednesday signed an executive order on digital assets that had a relatively favorable approach to the crypto sector.
While the order didn’t explicitly outline the scale of regulatory measures that could be expected, the general sentiment from the U.S. federal government appeared to be constructive as opposed to stifling.
Per the order, the federal government’s regulatory oversight of the crypto sector will focus on six areas: consumer and investor protection; financial stability; financial inclusion; responsible innovation; the United States’ global financial leadership; and combating illicit financial activity. The order directs specific agencies to lead in designated policy and enforcement domains.
Bain Capital Ventures sets up a half-billion-dollar fund for crypto projects
Multi-billion-dollar startup investment firm Bain Capital Ventures (BCV) has unveiled a new $560 million crypto ecosystem fund, with the company already reported to have splurged $100 million on 12 undisclosed projects.
A BCV representative emphasized to Cointelegraph that the fund will be used to back entrepreneurs developing the next generation of open Web3 internet infrastructure:
“We believe this seismic shift will be one of the most important technological developments since the advent of the web and will require a new type of investment firm – one that can support the needs of the founders and the ecosystem from ideation through scale.”
Crypto.com gives users in excluded countries one week to repay loans
Many Crypto.com users were…