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biden just spread out an executive order on cryptocurrencies. Here's everything that's in it. Us President joe biden signed an executive order on Wednesday calling on the government to examine the risks and benefits of cryptocurrencies. Its long awaited directive that has had the crypto industry on edge, not least due to growing regulatory concern around the wall surrounding the national digital asset market. There have been reports of a divide between White House officials and Treasury Secretary Janet Yellen, leading to delays in the policy rollout. The crypto market got wind of the executive order overnight after the Treasury accidentally put out as insulated statement, calling it historic and releasing some of the details ahead of time. The order was finally signed Wednesday. It called on federal agencies to take a unified approach to regulation and oversight of digital assets. According to a White House fact sheet, here are the key things to know protecting consumers. The measure announced Wednesday will focus on six key areas. One consumer and investor protection to financial stability, three illicit activity for us competitiveness on a global stage. Five financial inclusion and six responsible innovation protecting consumers is an important part of the directive. There have been countless stories of investors falling for crypto scams or losing huge sums of money through cyber attacks on exchange or users themselves. The Vital administration is calling on the Treasury to assess and develop policy recommendations on crypto. It also wants regulators to ensure sufficient oversight and safeguards against any systemic financial risk posed by digital assets. While policymakers have been keen to downplay any systemic risks resulting from crypto. There have been increasing concerns over the role played by stable coins. There are digital dragons that are meant to be backed to the value of existing currencies, like the US dollar together. For the The world's largest table, Conway $80 billion dollars in circulation has attracted the ire of regulators over claims its token is not sufficiently backed by dollars held in reserve. The letter says it's coin is fully packed. However, the makeup of its reserve includes short term debt obligations, obligations like commercial paper, not just cash. The topic of stable coins was notably absent from the White House announcement Wednesday, though Yellen has made clear she wants to see Congress introducing relations for the sector.