Page 18 - HOH

A3
U.S. NEWS Wednesday 9 March 2022
AP sources: Biden to issue executive order on cryptocurrency

By FATIMA HUSSEIN and before the war. Both peo- efits of U.S.-backed digital
AAMER MADHANI ple spoke on condition of currency.
Associated Press anonymity to preview the Implicit in the order will
WASHINGTON (AP) — Presi- order. be that cryptocurrency
dent Joe Biden is expected The order is expected to will remain a part of the
to sign an executive or- describe what government U.S. economy for years to
der on cryptocurrency this agencies, including the come. The White House’s
week that will mark the Treasury Department, need plans to move forward with
first step toward regulat- to do to develop policies the executive order were
ing how digital currency is and regulations on digital first reported by Bloomberg
traded. currencies. It is expected News.
The move comes as ad- to include a request for the While U.S. officials have
ministration officials have State Department to en- played down the signifi-
raised concerns in recent sure that American crypto- cance of cryptocurrency
weeks about Russia’s use of currency laws are aligned to Russia’s ability to evade
cryptocurrency to evade with those of U.S. allies and sanctions, it remains a con- In this Feb. 9, 2021, photo, the Bitcoin logo appears on the
the impact of crushing will ask the Financial Sta- cern. display screen of a cryptocurrency ATM at the Smoker’s Choice
sanctions in response to bility Oversight Council — “We will continue to look store in Salem, N.H.
its invasion of Ukraine. The which monitors the stability at how the sanctions work Associated Press
sanctions have sent the of the U.S. financial system and evaluate whether or Treasury Secretary Janet been on the lookout for
ruble to historic lows and — to study illicit finance not there are liquid leak- Yellen said last week. the use and creation of
have closed the country’s concerns. ages and we have the pos- A senior administration of- front companies and al-
stock market. Additionally, the order will sibility to address them. I ficial who spoke on con- ternative financial institu-
Two people familiar with explore the possibility of a often hear cryptocurrency dition of anonymity said tions that Moscow might try
the process said the ex- new central bank digital mentioned and that is a the president’s national to employ to get around
ecutive order on crypto- currency. The Federal Re- channel to be watched,” security team has already sanctions.q
currency was expected to serve issued a paper on
be issued this week and it the topic in January that
had been in the works long explores the risks and ben-

WHO says COVID boosters

needed, reversing previous call

GENEVA (AP) — An expert Last year, WHO’s director-
group convened by the general Tedros Adhanom
World Health Organization Ghebreyesus called for
said Tuesday it “strongly a moratorium on boost-
supports urgent and broad er doses while dozens of
access” to booster doses countries embarked on
of COVID-19 vaccine amid administering the doses,
the global spread of omi- saying rich countries should
cron, capping a reversal of immediately donate those
the U.N. agency’s repeat- vaccines to poor countries
ed insistence last year that instead. WHO scientists said
boosters weren’t necessary at the time they would con-
for healthy people and tinue to evaluate incoming
contributed to vaccine in- data.
equity. The updated recommen-
In a statement, WHO said dations came from an
its expert group conclud- 18-member advisory group
ed that immunization with that focuses on the impact
authorized COVID-19 vac- of “variants of concern” —
cines provide high levels of the most worrying variants,
protection against severe like omicron — and assess-
disease and death amid es the vaccines’ effective-
the continuing spread of ness against them.
the hugely contagious omi- Numerous scientific studies
cron variant. WHO eased have proven that booster
back on its earlier position doses of authorized vac-
in January by saying boost- cines help restore wan-
ers were recommended ing immunity and protect
once countries had ad- against serious COVID-19.
equate supplies and after Booster programs in rich
protecting their most vul- countries including Britain,
nerable. Canada and the U.S. have
It said vaccination, includ- been credited with pre-
ing the use of boosters, was venting the surge in omi-
especially important for cron infections from spill-
people at risk of severe dis- ing over into hospitals and
ease. cemeteries.q