Strengthening American Leadership in Digital Financial Technology
1. Purpose
To promote U.S. leadership in digital assets while ensuring individuals' rights and protecting economic liberty.
2. Key Actions And Directives
- Establishing a Working Group: The President's Working Group on Digital Asset Markets is tasked with addressing issues related to digital assets and must submit recommendations within 180 days.
- Prohibiting CBDCs: The establishment, issuance, circulation, and use of Central Bank Digital Currencies (CBDCs) are prohibited to safeguard financial system integrity and individual privacy.
- Revoking Previous Policies: Executive Order 14067 and inconsistent policies are revoked, requiring compliance from the Secretary of the Treasury.
3. Important Points
- Definition of Digital Assets: Digital assets encompass digital representations of value recorded on distributed ledgers, including cryptocurrencies and tokens.
- Protection of Individual Rights: The order emphasizes the protection of citizens' ability to lawfully access and utilize public blockchain networks.
- National Digital Asset Stockpile: The Working Group will explore the potential establishment of a national digital asset stockpile from legally seized cryptocurrencies.
- Technology-Neutral Regulations: The order advocates for regulations that are adaptable to emerging technologies to foster a dynamic digital economy.
Disclaimer: ExecBrief's are AI generated, Please verify with the original source to confirm
Click here to provide feedback to help us improve your experience!
Comments