FILE PHOTO: A representation of cryptocurrency Bitcoin is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration
March 9, 2022
By Kevin Buckland, Tom Westbrook and Medha Singh
(Reuters) -Bitcoin surged on Wednesday ahead of an executive order that U.S. President Joe Biden will sign on digital assets which is likely to raise the legitimacy of virtual currencies in the U.S. financial system.
Digital currencies surged overnight after what appeared to be a prematurely published U.S. Treasury statement that allayed market worries about a sudden tightening of U.S. rules around digital assets.
In a statement that briefly appeared on the Treasury website before it was taken down, Treasury Secretary Janet Yellen said a still-pending executive order on virtual currencies from President Joe Biden “calls for a coordinated and comprehensive approach to digital…
