On March 9, 2022, President Biden signed a wide-ranging Executive Order on Ensuring Responsible Development of Digital Assets. While the Order does not mandate any particular regulatory prescriptions, it lays out key policy goals for a whole-of-government approach to digital asset regulation and directs the U.S. Government to assess the potential for a U.S. Central Bank Digital Currency. Reflecting the rapid growth and adoption of digital assets, the Order identifies potential benefits and risks while signifying that digital assets will be an important focus of U.S. financial regulatory efforts for the Biden Administration.
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