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ARTICLE · 10 FEBRUARY 2025

Moves Toward Coherent Regulation Of Crypto Products

Carter Ledyard & Milburn LLP
Carter Ledyard & Milburn LLP
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Carter Ledyard & Milburn LLP

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The Trump Administration has begun the process of determining how cryptocurrencies and other blockchain-based products can be regulated in an orderly manner. Previously...

United StatesTechnology
Ronald Feiman
Ronald Feiman
Guy Ben-Ami
Guy Ben-Ami
Matthew D. Dunn
Matthew D. Dunn
Jennifer "Jenny" Frank
Jennifer "Jenny" Frank

The Trump Administration has begun the process of determining how cryptocurrencies and other blockchain-based products can be regulated in an orderly manner. Previously (and currently) different regulatory bodies have asserted jurisdiction over various crypto products, sometimes inconsistently.

On January 23, 2025, President Trump issued an executive order, entitled Strengthening American Leadership in Digital Financial Technology, aimed at encouraging the "responsible growth and use of digital assets, blockchain technology, and related technologies" while prohibiting the use of Central Bank digital currencies.

In support of its program, the order establishes within the National Economic Council the President's Working Group on Digital Asset Markets, to be chaired by a "Special Advisor for AI and Crypto." The working group includes 11 members, including the Attorney General, the chairmen of the SEC and the CFTC, the Secretaries of Treasury, Commerce, and Homeland

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