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Biden’s Comms Director Barred From Former Crypto Clients: Report

President Joe Biden will prohibit his communications director, Ben LaBolt, from handling any legal matters or contracts related to cryptocurrency or technology firms he previously represented, according to an April 22 report by Bloomberg Law. LaBolt's former clients included decentralized exchange UniSwap, venture capital firm Andressen Horowitz, Meta Platforms, Shopify, and West Street, the family office of Mark Zuckerberg and his wife Priscilla Chan. LaBolt disclosed holding $50,001-$100,000 in Bitcoin and $15,001-$50,000 in Ethereum 2. Despite the restrictions, LaBolt will be allowed to advise on cryptocurrency regulation. Biden's executive order on digital assets signed on March 9 outlines an interagency process for producing reports at intervals ranging from 90 days to over a year.

(By CIARAN LYONS)

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