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ARTICLE · 11 MARCH 2022

President Biden Issues Executive Order Directing Coordinated Federal Approach To Digital Assets

As a result of the rise in digital assets, President Biden signed an Executive Order on March 9, 2022 ordering a review of the nation's approach to cryptocurrency.

United StatesTechnology

As a result of the rise in digital assets, President Biden signed an Executive Order on March 9, 2022 ordering a review of the nation's approach to cryptocurrency. The Executive Order on Ensuring Responsible Development of Digital Assets (the "Order") contains both broad policy objectives and specific analysis to be conducted by the federal government. The Order identifies several key national priorities related to digital assets and directs the executive branch to follow the interagency process that President Biden previously implemented for the National Security Council to implement the Order. The Order directs a broad swath of U.S. federal agencies to analyze and issue assessments related to digital assets, including the viability of a U.S. central bank digital currency ("CBDC"), a digital form of U.S. sovereign currency.

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