EO 14178
Strengthening American Leadership in Digital Financial Technology
Economy & TradeTechnologyGovernment Reform
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Summary
This executive order establishes a framework to promote U.S. leadership in digital assets and blockchain technology while protecting the dollar's sovereignty. It revokes the previous digital assets executive order, prohibits central bank digital currencies (CBDCs) in the United States, and creates a working group to review and modify existing regulations affecting the digital asset sector.
Key Points
- 1Revokes Executive Order 14067 and the Treasury Department's 2022 digital assets framework, replacing them with policies favoring responsible growth of digital assets and blockchain technology
- 2Prohibits the establishment, issuance, circulation, and use of central bank digital currencies (CBDCs) within U.S. jurisdiction, citing concerns about financial system stability, privacy, and sovereignty
- 3Establishes the President's Working Group on Digital Asset Markets, chaired by the Special Advisor for AI and Crypto, to review existing regulations and recommend modifications or rescissions within 180 days
- 4Directs agencies to identify regulations and guidance affecting the digital asset sector and submit recommendations on whether they should be modified, rescinded, or converted into formal regulations
- 5Prioritizes regulatory clarity, fair banking access, protection of individual and private-sector use of blockchain networks, and promotion of dollar-backed stablecoins
This summary is for informational purposes only. It may not capture all nuances of the executive order. Always refer to the official text for authoritative information.
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