Strengthening American Leadership in Digital Financial Technology – The White House

By the due authority of me as President by the Constitution and the laws of the United States of America, and in order to advance United States leadership in digital assets and financial technology while protecting economic freedom, it is hereby ordered as follows:
Section 1. Purpose and Policies. (a) The digital asset industry plays an important role in U.S. innovation and economic development, as well as our nation’s international leadership. Therefore, it is the policy of my administration to support the responsible growth and use of digital assets, blockchain technology and related technologies in all sectors of the economy, including:
(1) Protect and enhance the ability of individual citizens and private sector entities alike to access and use for lawful purposes open public blockchain networks without persecution, including the ability to develop and deploy software, to engage in mining and validation verification, and to transact with other persons without oversight Illegal, self-preserving the body of digital assets;
(2) promote and protect the sovereignty of the US dollar, including through actions to promote the development and growth of fiat, 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 regulations, frameworks that represent 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, permissionless metadata, and 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, turnover, trading, and use of CBDCs within the jurisdiction of the United States.
second. 2. Definitions. (a) For the purpose of this arrangement, the term “Digital asset “refers to any digital representation of value that is recorded on a distributed ledger, including cryptocurrencies, digital tokens, and stablecoins.
(b) “blockchain” means any technology where data:
(1) sharing across a network to create a public ledger of verified transactions or information between network participants;
(2) associated with the use of cryptography to maintain the integrity of the public ledger and perform other functions;
(3) distributed among network participants in an automated manner to synchronously update network participants on the status of the general ledger and any other functions; and
(4) It 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 the direct responsibility of the Central Bank.
second. 3. cancellation Executive Order 14067 and Treasury Framework on July 7, 2022. (a) Executive Order 14067 of March 9, 2022 (Ensuring Responsible Development of Digital Assets) is hereby rescinded.
(b) Direct the Secretary of the Treasury to immediately abolish the Department of the Treasury.”A 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 Department of the Treasury’s Framework for International Engagement on Digital Assets are hereby rescinded or rescinded by the Secretary of the Treasury, as appropriate, that 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 arrangement.
second. 4. Create the boss‘Working Group on Digital Asset Markets. (a) There is hereby established within the National Economic Council the Working Group on Digital Asset Markets (the Working Group). He chairs the working group Special consultant for AI and cryptography (chair). In addition to the chair, the work group must include the following officials, or their designers:
(i) Secretary of the Treasury;
(2) The Public Prosecutor;
(3) Minister of Commerce;
(4) 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);
(viii) Assistant to the President for Science and Technology;
(9) Homeland Security Advisor;
(o) Chairman of the Securities and Exchange Commission; and
(11) Head of commodity futures trading
commission.
(xii) As appropriate and consistent with applicable law, the President may invite the heads of other executive departments and agencies (agencies), or senior officials of the Executive Office of the President, to attend meetings of the Working Group, based on the importance 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 heads of which are included in the work group, shall designate all Regulations, guidance documents and ordersOr other elements affecting the digital asset sector. Within 60 days from the date of this order, each agency shall submit recommendations to the President as to whether each agency should repeal or amend each specified item, or items other than the regulations, adopted therein. List.
(c) Within 180 days of the date of this Order, the Working Group shall submit a report to the President, through APEP, which recommends regulatory and legislative proposals that advance the policies specified by this Order. In particular, the report focuses on the following:
(1) The working group proposes a federal regulatory framework that would govern the issuance and operation of digital assets, including Stablecoins, in the United States. The working group report must take into account the provisions of market structure, supervision, consumer protection and risk management.
(2) The working group is evaluating the potential creation and maintenance of a national digital asset inventory and proposing standards for creating such an inventory, potentially derived from cryptocurrencies seized by the federal government through law enforcement efforts.
(d) The President shall appoint the Executive Director of the Working Group, who shall be responsible for coordinating its day-to-day functions. On issues affecting national security, the working group must consult the National Security Council.
(e) As appropriate and consistent with law, the Working Group shall hold public hearings and receive individual expertise from leaders in digital assets and digital markets.
second. 5. Banning central bank digital currencies.
(a) Except to the extent required by lawThe agencies are hereby prohibited from taking any action to create, issue, or promote CBDCs within the jurisdiction of the United States or abroad.
(b) Except to the extent required by law, any ongoing plans or initiatives in any agency relating to the establishment of a CBDC within the jurisdiction of the United States shall be terminated immediately, and no further actions may be taken to advance such plans or initiatives.
second. 6. Severability. (a) If any provision of this Order, or the application of any provision to any person or circumstance, is deemed invalid, the remainder of this Order and the application of its provisions to any other persons or circumstances shall not be affected.
second. 7. General provisions. (a) Nothing in this arrangement shall be construed to impair or otherwise affect:
(i) Authority granted by law to an executive department or agency or its head; or
(2) Functions of the Director of the Office of Management and Budget related to administrative, administrative, or legislative proposals.
(b) This order will be implemented in accordance with applicable law and is subject to the availability of appropriations.
(c) This Order is not intended to, and does not create, any right, benefit, substantive, procedural or enforceable at law or in equity against the United States, its departments, agencies, entities, officers, employees, agents, or any other person.
white house,
January 23, 2025.
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