Exploring Biden’s Executive Order on Crypto, 6 Months In

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Exploring Biden’s Executive Order on Crypto, 6 Months In
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Carole House, a former White House adviser and one of the authors of U.S. President Joe Biden's March executive order on digital assets, discussed how the document came together for this year's MostInfluential2022. nikhileshde writes

It’s worth noting up front that many major questions about how the U.S. will regulate digital assets remain up in the air. A simmering turf war between the Securities and Exchange Commission and Commodity Futures Trading Commission is no closer to conclusion than it was when the order first published. Whether and how the federal government may adopt policies supportive of blockchain development is also up in the air.

“I’m totally thrilled with the reports that the White House issued, and I'm so proud of the entire interagency, for coming together and just creating this first ever comprehensive framework for responsible development of digital assets,” House said. “There's some incredibly innovative content and things that we've never seen before, certainly under any U.S. approach, and that I really don't see under many, if any, international approaches.

“We had totally complementary White House documents, like research and development guidance that came out from the Office of Science Technology Policy, the critical emerging technologies list that pointed to distributed ledger technologies and digital assets as critical emerging technologies, lots of mutually reinforcing policy objectives that are pointing to the responsible development of the space as being beneficial to the U.S.

The administration has willingly called for more public information in answering questions about cryptocurrencies’ role in illicit finance, the same area the executive order actually began. The department’s brief request-for-comment filing asks a number of questions.

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