After Yellen's Crypto Statement was Inadvertently Published, Bitcoin climbed to $41,000.

According to Cameron Winklevoss of Early Gemini, the impending crypto directive is positive and fosters responsible innovation, based on Yellen's words.

After U.S. Treasury Secretary Janet Yellen's mistakenly disclosed statements showed that President Joe Biden's impending crypto order would take a constructive stance in regulating the digital asset business, Bitcoin (BTC) rose early on Wednesday, propelling the broader crypto market higher.

Yellen said in a statement released late Tuesday that a presidential executive order on cryptocurrencies will "promote responsible innovation" by coordinating U.S. policy across agencies.

Treasury will collaborate with interagency colleagues to develop a report on the future of money and payment systems, according to the executive order, Yellen said.

After CoinDesk posted Yellen's comments, bitcoin gained a bid and surged nearly 7% to $41,900, calming market jitters. According to CoinDesk data, other well-known cryptocurrencies like as ETH, SOL, and LUNA followed suit.

According to the comments, "crypto EO is positive and calls for a coordinated and comprehensive approach to digital asset regulation that will foster responsible innovation," according to Cameron Winklevoss of Gemini Trust.

"I applaud this thoughtful approach to crypto regulation," Winklevoss added. "I look forward to working with the various stakeholders to ensure that the United States remains a leader in crypto."

The White House's long-awaited executive order on cryptocurrencies has recently gotten a lot of attention, partly to reports that affluent Russians are utilizing bitcoin and dollar-pegged stablecoins to get around Western economic sanctions. As a result, numerous analysts have expressed concern that the Biden administration may take a hard line on the nascent cryptocurrency industry.

Despite Yellen's balanced approach, concerns about cryptocurrency's use for illicit financing remain. "The executive order will address risks associated with illicit finance, protecting consumers and investors, and averting dangers to the financial system and broader economy," Yellen said in a statement that has since been removed.

On Tuesday night, the statement, dated March 9, was uploaded on the Treasury Department's website and was quickly removed.

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