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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 asset policy (that) will support responsible
innovation." CoinDesk carried an archived version of the
release.
The U.S. Treasury Department did not immediately respond to
Reuters' emailed request for comment about the statement outside
of business hours.
Biden is expected to sign a long-awaited executive order on
Wednesday directing the Justice Department, Treasury and other
agencies to study the legal and economic ramifications of
creating a U.S. central bank digital currency.
The White House last year said it was considering a wide-ranging
oversight of the cryptocurrency market - including an executive
order - to deal with the growing threat of ransomware and other
cyber crime.
The accidentally published remarks indicate Biden's impending
crypto order "would take a constructive approach in regulating
the digital asset industry," said Ipek Ozkardeskaya, senior
analyst at Swissquote.
"A constructive approach from the U.S. would be a big step for
the digital assets, as regulation is one of the major risks to
their valuation."
Bitcoin rose 8.9% to $42,188, on track for its biggest gain
since Feb. 28, while smaller peer ether, the coin linked to the
ethereum blockchain network, added 7% to $2,759, also set for
its best day this month.
U.S. exchange traded funds (ETFs) tracking bitcoin futures that
gained regulatory approval late last year also jumped in
premarket trading. ProShares Bitcoin Strategy ETF and Valkyrie
Bitcoin Strategy ETF surged about 9.5% each.
U.S. crypto miners that act as a proxy for moves in digital
coins also advanced. Riot Blockchain jumped 9% and Marathon
Digital Holdings 7.5%, while crypto exchange Coinbase Global Inc
added 7%.
(Reporting by Kevin Buckland, Tom Westbrook and Medha Singh;
Additional reporting by Alun John; Editing by Sam Holmes and
Krishna Chandra Eluri)
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