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Transcript
00:00Earlier this year, President Joe Biden created an executive order to ask the government to look
00:05more into crypto so that they could understand it better. Now, the first part of that order was
00:09to ask the different agencies to figure out which of them would be responsible for which part of
00:15crypto. The second part of the executive order was to ask the U.S. Department of State to develop
00:19new policy, new rules, new regulation, and new studies to find out more about crypto. And the
00:24third part of that executive order was to ask the Financial Stability Oversight Council to look
00:29more into stablecoins. And that's because they want to make sure that stablecoins don't destabilize
00:34the financial interests of the U.S. government because the government also wants to create
00:39its own stablecoin, probably something called Fedcoin, to potentially replace the U.S. dollar,
00:44and they want to make sure it doesn't crash the whole U.S. economy.
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