Summary:
U.S. leadership in digital assets is crucial for innovation and economic development.
Support for responsible growth of digital assets and blockchain technology.
Protection of individual rights to access open blockchain networks.
Revocation of Executive Order 14067 regarding digital assets.
Establishment of a Working Group to create a regulatory framework for digital assets.
By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to promote United States leadership in digital assets and financial technology, it is hereby ordered as follows:
Purpose and Policies
(a) The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership. It is therefore the policy of my Administration to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy, including by:
- Protecting and promoting the ability of individual citizens and private-sector entities to access and use open public blockchain networks without persecution.
- Promoting and protecting the sovereignty of the United States dollar, including through actions to promote the development of lawful and legitimate dollar-backed stablecoins worldwide.
- Ensuring fair and open access to banking services for all law-abiding citizens and entities.
- Providing regulatory clarity and certainty built on technology-neutral regulations.
- Protecting Americans from the risks of Central Bank Digital Currencies (CBDCs), which threaten the stability of the financial system, individual privacy, and sovereignty.
Definitions
- Digital asset: Any digital representation of value recorded on a distributed ledger, including cryptocurrencies, digital tokens, and stablecoins.
- Blockchain: A technology where data is shared across a network to create a public ledger of verified transactions.
- Central Bank Digital Currency: A form of digital money or monetary value directly issued by the central bank.
Revocation of Previous Orders
- Executive Order 14067 of March 9, 2022, is hereby revoked, along with all policies issued pursuant to it.
Establishment of the President's Working Group on Digital Asset Markets
- A new Working Group is established to propose a Federal regulatory framework governing digital assets, including stablecoins.
Prohibition of Central Bank Digital Currencies
- Agencies are prohibited from establishing or promoting CBDCs within the U.S. jurisdiction.
General Provisions
- This order will be implemented consistent with applicable law.
THE WHITE HOUSE,
January 23, 2025.
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