White House Weighs Wide-Ranging Push for Crypto Oversight

The Biden administration is weighing an executive order on cryptocurrencies as part of an effort to set up a government-wide approach to the white-hot asset class, according to people familiar with the matter.

The proposed directive would charge federal agencies to study and offer recommendations on relevant areas of crypto -- touching on financial regulation, economic innovation and national security, said the people, who asked not to be named discussing plans that are still under consideration.

The initiative will also aim to coordinate agencies’ work on digital currencies throughout the executive branch, the people said. The plan would push ...