Biden issues executive order on digital asset innovation

President Joe Biden signed an executive order Wednesday on innovation in digital assets. The order outlines a “whole-of-government” approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology.

Digital assets, including cryptocurrencies surpassed a $3 trillion market cap last November, and surveys suggest around 16% of adult Americans – approximately 40 million people – have invested in, traded, or used cryptocurrencies, according to the White House.

Specifically, the Executive Order:

• Directs the Department of the Treasury and other agency partners to assess and develop policy recommendations to address the implications of the growing digital asset sector and changes in financial markets for consumers, investors, businesses, and equitable economic growth.

 

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