Ensuring Responsible Development of Digital Assets
Headline: Government Directs Agencies to Regulate and Study Digital Assets
What it does: Agencies must coordinate to assess digital-asset risks and produce reports on central bank digital currency (CBDC), consumer protections, financial stability, illicit finance, and international engagement.
- Requires federal agencies to produce reports and coordinated action plans on digital assets.
- May lead to new regulations and increased oversight of digital-asset service providers.
- Promotes research into a U.S. central bank digital currency and its technical risks.
Summary
This order directs federal agencies to coordinate a government-wide approach to the rapid growth of digital assets. It calls for assessments, reports, and action plans to address risks to consumers, investors, businesses, financial stability, national security, and the environment.
Key tasks include Treasury reports on the future of money and central bank digital currency (CBDC) analysis within 180 days, law-enforcement and consumer-protection reports, technical evaluations for a CBDC, a Financial Stability Oversight Council (FSOC) financial-stability review, and plans for international engagement and competitiveness.
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