Biden’s executive order on crypto is a “Spyware”: James Rickards

Pentagon former advisor James Rickards labeled Biden’s Executive Order as Spyware on the crypto space.

In November 2021, The market cap of crypto reached around $3 trillion and this pushed the US government to bring precise rules & comprehensive policies to ensure the safety of the crypto investors in this innovative industry. In March of this year, US president Biden signed bill order #14067, “Ensuring Responsible Development of Digital Assets”, which is known as Executive order. 

On 7 September, James Rickards, who is a former advisor to the Pentagon, the White House, Congress, the CIA, and the Department of Defense, joined The Rich Dad podcast. In the podcast, he talked about Biden’s Executive Order on crypto.

James claimed that the Executive order was spyware on crypto investors & the whole industry because it was an effort to increase the power of government in this industry.

“This would dramatically expand the power and influence of the federal government <…> essentially acting as a new type of “spyware.”

Robert Kiyosaki, the host of The Rich Dad podcast, compared this scenario with George Orwell’s 1984 novel. Further, James talked about the concerns related to hidden agendas behind the executive order. 

In the past, Robert Kiyosaki talked about the executive order & its efforts to develop & introduce CBDCs or say Digital Dollar. At that time Kiyosaki said that CBDC will be a threat to the privacy of people because it will expose the financial activities of people easily.

Robert Kiyosaki favors Bitcoin

Kiyosaki is popularly known as a financial advisor and also he believes that silver, Gold, the real-estate sector & Bitcoin are the best investment assets. 

Kiyosaki believes that Bitcoin will be killed by the US government if it will achieve better success in the future than other assets. 

Read also: SEC chairman supports CFTC regulatory powers over non-security crypto assets