WASHINGTON - U.S. President Joe Biden is expected to sign a long-awaited executive order this week on cryptocurrencies, possibly on Wednesday, a source familiar with the matter said on Monday.

The White House last year said it was considering a wide ranging oversight of the cryptocurrency market to combat the growing threat of ransomware and other cyber crime.

The move comes amid heightened concern about the potential use of cryptocurrencies by Russia and Russian elites to circumvent Western sanctions that have cut Russia off from large portions of the global economy.

  - Reuters