Will Biden compel federal agencies to regulate cryptocurrencies?

In recent months, the cryptocurrency market has witnessed unprecedented growth and volatility, leading to increased scrutiny from regulators worldwide. Given President Biden's emphasis on financial stability and consumer protection, one might ask: Will Biden compel federal agencies to regulate cryptocurrencies? This question arises in the context of the Biden administration's broader approach to financial oversight, where it has already signaled its intention to clamp down on risks in traditional financial markets. Cryptocurrencies, with their decentralized nature and potential for misuse, pose unique challenges that may require a tailored regulatory approach. It remains to be seen if the Biden administration will take a proactive stance in this domain, but the question remains a pertinent one as the cryptocurrency market continues to expand.