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White House Reportedly Eyes Crypto Regulation as Gov. Abbott Sends Miners a Warm Welcome

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The Biden administration reportedly looked to an executive order on cryptocurrency, Texas Governor Greg Abbott targeted cryptocurrency miners and the Lebron James Family Foundation pushes Web3 education. Watch Ross Mac of Maconomics break down the latest cryptocurrency news on TheStreet’s ‘Crypto Minute’ on Friday, January, 28.

Transcript:

Looks like the Biden administration is trying to regulate the crypto market, while Lebron James just partnered with a crypto trading platform.

It’s your boy Ross Mac and these are the biggest cryptocurrency stories on Friday, January 28.

The White House is reportedly preparing an executive order on crypto.The order would push government agencies to conduct risk analysis on cryptos as a national security threat. Barron's reported that the order would be issued in a national security memorandum, according to a source. Here we go, the act of trying to centralize a decentralized product.

Looking to mine Bitcoin? Texas Governor Greg Abbott is pushing to bring crypto miners to his state in hopes that mining could help stabilize the electricity grid. The governor would want the miners to be willing to pause their operations when ordered to do so to protect the power grid. Voters in Texas have not been happy about the previous handling of the electrical grid, so how will they react to this proposal?

Lebron and Crypto.com have teamed up to add Web3 education to the Lebron James Family Foundation's I Promise program in Ohio. James said that blockchain technology is "revolutionizing" our economy and is having a big impact on sports. The partnership ensures that families enrolled in the program will not be left behind as everyone races to the Metaverse.

I’m Ross Mac and that was the Crypto Minute on TheStreet. 

TheStreet's Crypto Minute is brought to you by Blockchain.com.

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