White House Coordinates Big Picture Conceptual Strategy To Address Digital Assets

Noting the explosive use of digital assets across international financial sectors/markets, President Biden signed an Executive Order (EO) on Ensuring Responsible Development of Digital Assets, calling for a whole-of-government approach to address the opportunities and inherent risks associated with digital assets, while harnessing their potential benefits and underlying technology. Digital assets have surpassed a $2 trillion market cap with over 40 million Americans having invested in, traded, or used cryptocurrencies. President Biden's EO identifies six key priorities, chief amongst them having the United States take a leading role in international engagement regarding governance of digital assets. The President's stated goal is to maintain U.S. technological leadership and support innovation, while mitigating risks for consumers, businesses, the broader financial system, and the environment.