In a recent executive order issued on January 23, 2025, the President of the United States outlined policies aimed at bolstering American leadership in digital financial technology. The order emphasizes support for responsible growth and use of digital assets, blockchain technology, and related innovations across various sectors.
The administration's policy aims to "protect and promote the ability of individual citizens and private-sector entities alike to access and use for lawful purposes open public blockchain networks without persecution," as well as "promoting and protecting the sovereignty of the United States dollar." The order also highlights measures to provide regulatory clarity, protect fair banking access, and safeguard against risks posed by Central Bank Digital Currencies (CBDCs).
The executive order revokes previous directives such as Executive Order 14067 from March 9, 2022, along with the Department of the Treasury’s framework issued on July 7, 2022. It mandates that all inconsistent policies be rescinded by the Secretary of the Treasury.
To oversee these efforts, a President’s Working Group on Digital Asset Markets has been established within the National Economic Council. This group will include officials like "the Secretary of the Treasury," "the Attorney General," "the Secretary of Commerce," among others. They are tasked with reviewing existing regulations affecting digital assets and submitting recommendations within specified timeframes.
One significant directive is prohibiting agencies from establishing or promoting CBDCs within U.S. jurisdiction unless required by law. Any ongoing plans related to CBDC creation must be immediately terminated.
The order concludes with general provisions ensuring its implementation aligns with existing laws and does not create enforceable rights or benefits against U.S. entities.