Strengthening American leadership in the field of digital financial technology – The White House

By the authority vested in me as President under the Constitution and laws of the United States of America, in order to advance United States leadership in digital assets and financial technology while protecting economic freedom, I am hereby ordered as follows:

Section 1. Purpose and Policies. (a) The digital asset industry plays a critical role in U.S. innovation and economic development, as well as our country’s international leadership. It is therefore my administration’s policy to support the responsible growth and use of digital assets, blockchain technology, and related technologies in all sectors of the economy, including by:

(i) Protect and enhance the ability of individual citizens and private sector entities alike to access and use open public blockchain networks for legitimate purposes without persecution, including the ability to develop and deploy software, engage in mining and validation, and transact with other persons without unauthorized oversight. Legal, self-custody of digital assets;

(2) strengthen and protect the sovereignty of the United States dollar, including through actions to promote the development and growth of legal and legitimate dollar-backed stablecoins around the world;

(3) protect and promote fair and open access to banking services for all law-abiding individual citizens and private sector entities alike;

(4) Provide regulatory clarity and certainty built on technology-neutral regulation, frameworks that take into account emerging technologies, transparent decision-making, and well-defined jurisdictional regulatory boundaries, all of which are necessary to support a vibrant and inclusive digital economy and innovation in digital assets and permissionless blockchains. By,distributed ledger technologies; and

(5) Take measures to protect Americans from the risks of central bank digital currencies (CBDCs), which threaten the stability of the financial system, individual privacy, and the sovereignty of the United States, including by prohibiting the creation, issuance, trading, and use of central bank digital currencies (CBDCs) within the state Judiciary of the United States.

second. 2. Definitions. (a) For the purpose of this order, the term ““Digital assets” refers to any digital representation of value recorded on a distributed ledger, including cryptocurrencies, digital tokens, and stablecoins.

(b) “Blockchain” means any technology in which data:

(1) share it across the network to create a public ledger of verified transactions or information between network participants;

(2) link using cryptography to maintain the integrity of the public ledger and perform other functions;

(3) is distributed to network participants in an automated manner to synchronously update network participants about the status of the general ledger and any other functions; and

(iv) Consists of publicly available source code.

(c) “Central Bank Digital Currency” means a form of digital money or monetary value, denominated in a national unit of account, which is a direct responsibility of the Central Bank.

second. 3. cancellation Executive Order 14067 and the Treasury Framework dated 7 July 2022. (a) Executive Order No. 14067 of March 9, 2022 (Ensuring Responsible Development of Digital Assets) is repealed.

(b) The Secretary of the Treasury is directed to immediately abolish the Department of the Treasury.”Framework for international engagement on digital assets“, released on July 7, 2022.

(c) All policies, directives, and directives issued pursuant to Executive Order 14067 and the Treasury Department’s Framework for International Engagement on Digital Assets are hereby rescinded or rescinded by the Secretary of the Treasury, as appropriate, to the extent they are inconsistent with the provisions of this Order.

(d) The Secretary of the Treasury shall take all appropriate measures to ensure compliance with the policies set forth in this order.

second. 4. Create the boss‘Working Group on Digital Asset Markets. (a) There is hereby established within the National Economic Council the President’s Task Force on Digital Asset Markets (the Task Force). He chairs the working group Special consultant for artificial intelligence and cryptography (chair). In addition to the Chairman, the task force must include the following officials or their designees:

(i) Secretary of the Treasury;

(2) The Attorney General;

(3) Minister of Commerce;

(4) the Secretary of Homeland Security;

(5) Director of the Office of Management and Budget;

(6) Assistant to the President for National Security Affairs;

(7) Assistant to the President for National Economic Policy (APEP);

(8) Assistant to the President for Science and Technology;

(ix) Homeland Security Advisor;

(x) Chairman of the Securities and Exchange Commission; and

(Eleventh) Chairman of the Commodity Futures Trading Board

commission.

(12) As appropriate and consistent with applicable law, the President may invite the heads of other executive departments and agencies (agencies), or other senior officials within the Executive Office of the President, to attend working group meetings, based on the relevance of their expertise and responsibilities.

(b) Within 30 days of the date of this Order, the Department of the Treasury, the Department of Justice, the Securities and Exchange Commission, and other relevant agencies, the chairs of which include the Working Group, shall identify all Regulations, guidance documents and ordersOr other elements affecting the digital assets sector. Within 60 days of the date of this order, each agency shall submit to the President recommendations as to whether each specific regulation, guidance document, order, or other provision should be repealed or amended, or, for provisions other than regulations, adopted into a regulation. .

(c) Within 180 days of the date of this order, the task force shall submit a report to the President, through APEP, which will recommend regulatory and legislative proposals that advance the policies set forth in this order. In particular, the report should focus on the following:

(i) The Task Force proposes a federal regulatory framework governing the issuance and operation of digital assets, including stablecoins, in the United States. The Working Group’s report considers provisions relating to market structure, supervision, consumer protection and risk management.

(2) The working group should evaluate the feasibility of creating and maintaining a national stockpile of digital assets and propose standards for creating such a stockpile, potentially derived from cryptocurrencies that have been lawfully seized by the federal government through law enforcement efforts.

(d) The President shall appoint an Executive Director of the Working Group who shall be responsible for coordinating its daily tasks. On issues affecting national security, the task force consults with the National Security Council.

(e) As appropriate and consistent with the law, the Working Group will hold public hearings and receive individual expertise from leaders in digital assets and digital markets.