The White House issued an executive order resetting US policy on digital assets and financial technology, including support for the responsible growth and use of digital assets and lawful dollar-backed stablecoins, and a prohibition on federal agencies taking action to establish, issue, or promote a central bank digital currency (CBDC) unless required by law. The order revokes Executive Order 14067 and directs the Secretary of the Treasury to immediately revoke the Treasury Department’s July 7, 2022 framework for international engagement on digital assets, with related policies and guidance to be rescinded to the extent inconsistent with the new order. The policy framework emphasizes protecting lawful access to open public blockchain networks, including developing and deploying software, mining and validating, transacting without unlawful censorship, and maintaining self-custody of digital assets. It also calls for fair and open access to banking services for law-abiding individuals and businesses, and for technology-neutral regulatory clarity with transparent decision-making and well-defined jurisdictional boundaries. A President’s Working Group on Digital Asset Markets is established within the National Economic Council, chaired by the Special Advisor for AI and Crypto, with participation including the Departments of the Treasury and Justice, the Securities and Exchange Commission, and the Commodity Futures Trading Commission. Within 30 days of the order, Treasury, Justice, the Securities and Exchange Commission, and other relevant agencies are to identify regulations and other items affecting the digital asset sector, and within 60 days each agency is to recommend whether they should be rescinded, modified, or adopted in regulation. Within 180 days, the Working Group must report to the President with regulatory and legislative proposals, including a proposed federal framework for the issuance and operation of digital assets and stablecoins, and an evaluation of a potential national digital asset stockpile with criteria that could include cryptocurrencies lawfully seized by the Federal Government.
The White House 2025-01-23
The White House revokes Executive Order 14067, establishes a digital asset markets working group and bars federal CBDC initiatives
The White House issued an executive order resetting US policy on digital assets, supporting responsible growth of digital assets and lawful stablecoins while prohibiting federal agencies from establishing a central bank digital currency unless required by law. The order revokes Executive Order 14067 and mandates the Treasury to rescind its 2022 framework on digital assets. A President’s Working Group on Digital Asset Markets is established to propose regulatory and legislative measures, including a federal framework for digital assets and stablecoins, within 180 days.