Current U.S. Administration’s Cryptocurrency Policy Objectives

The current U.S. administration has stated that it sees a need to develop a framework regulating digital asset use to protect U.S. consumers, investors and businesses, safeguard U.S. and global financial stability and mitigate systemic risk, illicit finance and the national security risks posed by the misuse of digital assets. The Executive Order also emphasises the need to reinforce U.S. financial leadership and give the U.S. a competitive advantage over other countries in the development of cryptocurrencies.

However, while the Digital Asset Executive Order represents a major step in U.S. efforts to address uneven digital asset regulation, supervision and compliance, it does not itself introduce a new regulatory framework for digital assets. Instead, it set out a series of policy statements and calls for a series of reports to be produced by the U.S. federal agencies on a coordinated basis.