Biden issues “sea change” US digital assets executive order

Biden issues “sea change” US digital assets executive order

March 10, 2022, Global Banking Regulation Review

Karen Solomon spoke with Global Banking Regulation Review following the White House’s first “whole-of-government” strategy for digital assets via an executive order, “addressing the risks and harnessing the potential benefits” of digital assets and their underlying technology.

She commented, “The executive order does signal a receptivity to establishing a United States CBDC [Central Bank Digital Currency] and, in requiring the Department of Justice to prepare legislation if necessary to accomplish that result, the order also recognizes the importance of building consensus for a CBDC in Congress.”

Karen added that the executive order does not “address the live issues that are confronting agencies today,” including the key question of which agencies have a responsibility for regulating digital assets.

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