Strengthening American Leadership in Digital Financial Technology
This executive order directs the federal government to prioritize United States leadership in digital assets and financial technology while safeguarding economic liberty. It aims to foster responsible innovation in digital assets, blockchain technology, and related systems, ensure access to banking services, and promote the sovereignty of the U.S. dollar (including lawful stablecoins). A key feature is the prohibition of any Central Bank Digital Currency (CBDC) within U.S. jurisdiction and the revocation of prior related guidance and frameworks. The order also creates a new interagency framework—the President’s Working Group on Digital Asset Markets—to coordinate regulatory and policy actions, identify existing regulations to modify or rescind, and develop a federal regulatory framework for digital assets, including a possible national digital asset stockpile derived from seized assets. Overall, it moves a centralized, formal process to shape how digital assets are regulated and how the government responds to emerging technology. Although it is an executive directive rather than legislation, the order sets concrete deadlines for agencies to map current rules, propose changes, and deliver a presidential report with regulatory and legislative recommendations within 180 days. It signals a strong stance against CBDCs and directs agencies to pursue technology-neutral regulations that provide certainty for innovation, consumer protection, and market structure.
Key Points
- 1Purpose and policies: The order endorses open, uncensored access to public blockchain networks, protection and promotion of the U.S. dollar (including lawful stablecoins), broad access to banking services, technology-neutral regulation, and shielding Americans from CBDCs.
- 2Definitions: Establishes what counts as a digital asset (including cryptocurrencies, tokens, and stablecoins), what a blockchain is, and what a Central Bank Digital Currency is.
- 3Revocation of prior frameworks: Repeals Executive Order 14067 (2022) and the Treasury framework on digital assets, requiring the Treasury Secretary to undo related policies that conflict with this order.
- 4President’s Working Group on Digital Asset Markets: Creates a group within the National Economic Council, chaired by the Special Advisor for AI and Crypto, with senior officials from Treasury, Justice, SEC, CFTC, and others. It must identify existing regulations affecting digital assets, propose modifications or rescissions, and deliver a formal regulatory/legislative proposal by 180 days.
- 5Regulatory framework and stockpile study: The Working Group must develop a federal framework for issuing and operating digital assets (including stablecoins), address market structure, oversight, consumer protection, and risk management; it may also propose criteria for a national digital asset stockpile derived from seized assets.
- 6Public participation: The Chair may designate an Executive Director for day-to-day operations and, where appropriate, the group must hold public hearings to gather expertise.
- 7CBDC prohibition: Agencies are forbidden from creating, issuing, promoting, or advancing CBDCs in the U.S. or abroad, and ongoing CBDC-related plans must be terminated.
- 8General provisions: The order emphasizes compliance with law and appropriations, preserves authority of other agencies, and states that the order does not confer substantive rights to individuals.