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ARTICLE · 18 MARCH 2022

U.S. Crypto Regulation: Biden Signs Executive Order On Strategy To Regulate Crypto

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On March 9, 2022, President Biden signed an Executive Order on Ensuring Responsible Development of Digital Assets. According to an accompanying fact sheet, it is the "first ever, whole-of-government approach"...

United StatesTechnology
Donna Parisi
Donna Parisi
Mark Chorazak
Mark Chorazak
Geoffrey Goldman
Geoffrey Goldman
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On March 9, 2022, President Biden signed an Executive Order on Ensuring Responsible Development of Digital Assets. According to an accompanying fact sheet, it is the "first ever, whole-of-government approach" to regulating cryptocurrency activities. Six areas are of focus in the order: (i) consumer and investor protection, (ii) financial stability and systemic risk, (iii) the prevention of illicit finance, (iv) U.S. leadership and competitiveness, (v) financial inclusion, and (vi) responsible innovation.

The order is a significant step toward developing a comprehensive federal approach on digital assets. Although the order does not prescribe a regulatory framework itself or require the issuance of new rules, it directs various parts of the federal government to issue reports and recommendations on potential regulatory or legislative actions concerning digital assets. Rules and regulations that may emanate from such reports and recommendations will still be subject

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