Presidential Working Group for Consideration

A newly created Presidential Task Force on Digital Asset Markets will work to develop a federal regulatory framework governing digital assets and consider creating a “strategic national digital asset stockpile.”

The working group was formed by Executive order The White House said in a Fact sheet Released on Thursday (January 23).

“The digital asset industry plays a critical role in innovation and economic development in the United States, as well as our nation’s international leadership,” the executive order said. “Therefore, it is 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.”

The working group will be chaired by the White House AI and Crypto Czar and will include the heads of relevant departments and agencies, including Ministry of Treasury and Securities and Exchange Commission (Sec), according to the fact sheet.

“The White House AI & Crypto Czar will engage leading experts in digital assets and digital markets to ensure the actions of the working group are informed by expertise beyond the federal government,” the fact sheet said.

The Executive Order also directs departments and agencies to identify regulations and other actions affecting the digital asset sector that should be rescinded or modified; Prohibits agencies from doing anything to promote central bank digital currencies (CBDCs); The Digital Assets Executive Order is in effect by the Biden administration and the Treasury Department A framework for international engagement on digital assets.

The Biden fact sheet said administration Actions that “suppressed innovation and undermined American economic freedom and global leadership in digital finance.”

news processing, Brian Armstrongco-founder and CEO of Cryptocurrency Exchange CoinbaseHe said on Thursday mail On X: “Executive Order on Crypto Has Down – Bullish!”

The creation of the working group came two days after the SEC launched Cryptography Task Force He focused on developing a “comprehensive and clear” regulatory framework for crypto assets.

The SEC’s task force will help the Commission “draw clear regulatory lines, provide realistic paths to regulation, and formulate reasonable disclosure frameworks.” and “Deploy enforcement resources judiciously,” the SEC said on Tuesday (Jan. 21). press release.