-AD-
-AD-
HomeNewsU.S. Presidential Order Shakes Up Crypto: New Leadership, New Rules!

U.S. Presidential Order Shakes Up Crypto: New Leadership, New Rules!

- Advertisement -
  • New executive order establishes Presidential Working Group on Digital Asset Markets to lead U.S. in digital finance.
  • Group, chaired by AI & Crypto Czar David Sacks, to create comprehensive regulatory framework for digital assets.

The United States government has taken a significant step forward in the regulation and oversight of digital finance by signing a new executive order focused on digital assets. This order establishes the Presidential Working Group on Digital Asset Markets, aimed at reinforcing the U.S. leadership role in the global digital finance sector.

Chaired by the White House AI & Crypto Czar, David Sacks, the working group includes high-profile figures such as the Secretary of the Treasury and the Chairman of the Securities and Exchange Commission, among leaders of other pertinent federal departments and agencies. 

This team is tasked with crafting a comprehensive federal regulatory framework that will cover various digital assets, including stablecoins. Additionally, the group will evaluate the potential creation of a national strategic reserve of digital assets.

The executive order marks a change from previous policies by revoking the prior administration’s directives that, according to current officials, hindered innovation and weakened the U.S. position in digital finance. It removes earlier restrictions that suppressed the development of digital assets and prohibited promotional activities related to central bank digital currencies (CBDCs).

Furthermore, the new directive encourages active consultation with leading digital finance experts outside of the federal government to ensure that the Working Group’s actions are well-informed and encompass a broad spectrum of insights.

This approach aims to foster an environment where regulatory measures support innovation while maintaining stringent standards for security and stability in digital markets.

New Executive Order to Reinforce Leadership in Digital Finance

The Executive Order establishes the Presidential Working Group on Digital Asset Markets to enhance U.S. dominance in digital finance.

This Working Group is mandated to craft a Federal regulatory framework for digital assets, including stablecoins, and to consider the establishment of a strategic national digital assets reserve.

The group will be led by the White House AI & Crypto Czar @DavidSacks, including the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission, and the leaders of other pertinent federal agencies.

The AI & Crypto Czar will collaborate with top experts in digital assets and markets to ensure that the Working Group’s decisions are deeply informed by cutting-edge industry knowledge.

The Executive Order instructs federal departments and agencies to review and suggest modifications or repeals of regulations and actions impacting the digital assets sector. It explicitly forbids any efforts by agencies to develop, issue, or promote central bank digital currencies (CBDCs).

Furthermore, this order nullifies the prior Administration’s directives concerning digital assets, which are said to have stifled innovation and compromised U.S. economic freedom and its leadership role in the global digital finance arena.

Departments and agencies are also instructed to identify and recommend any existing regulations or actions impacting the digital assets sector that may need revision or repeal.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: [email protected] Phone: +49 160 92211628
RELATED ARTICLES

LATEST ARTICLES