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The Vault
March 14, 2022
President Biden Signs Executive Order on Digital Assets
Please forgive some members of the FinTech community for remembering President Ronald Reagan’s comment: “The nine most terrifying words in the English language are: ‘I’m From the Government and I’m Here to Help.’” President Biden recently signed an Executive Order on Ensuring Responsible Development of Digital Assets (the “Order”) that instructs various agencies of the Federal Government with respect to the development of digital assets. The Order announces the intention of the United States to develop a comprehensive federal approach to harness the opportunities posed by digital assets, central bank digital currencies (“CBDCs”), and to understand and mitigate against the corresponding risks.
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