03-11-2022, 05:18 PM
A Summary of the US Executive Order on Digital Assets
<!-- SC_OFF --><div class="md"><p>This is a summary of the “Executive Order on Ensuring Responsible Development of Digital Assets” signed by the President of the United States.</p> <p><strong>Part 1: Just Some General Statements</strong></p> <p>We want to regulate and/or supervise cryptocurrency makers & movers…we just don’t know how yet.</p> <p>We don’t want Russia to get around sanctions and we don’t like that we don’t have control of the digital money flow.</p> <p>If crypto is “happening”, then we want to be in charge.</p> <p>People are under banked and our financial systems are not equitable. Crypto could make things better…I guess.</p> <p>We want to <del>control</del> lead the development of digital currency.</p> <p><strong>Part 2: Who’s In Charge</strong></p> <p>Jake Sullivan and Keith Hennessey are technically in charge of getting all this done.</p> <p><strong>Part 3: The United States Central Bank Digital Currencies</strong></p> <p>We are getting off our asses and getting a move on CBDCs. We see the potential and want to be central to the global digital economy. Also…no way are you getting rid of the dollar.</p> <p>In 2020 we started the G7 report outlining a set of policy principles for CBDCs. We want other countries to stick to it.</p> <p><strong>Part 4: Reports, Reports, and Deadlines</strong></p> <p>By mid September 2022 one big (or a lot of smaller) report(s) will be coming out. These include:</p> <ul> <li><p>The future of money and payment systems (aka <strong>How We Could Design & Distribute a US CBDC</strong>)</p></li> <li><p>The implications of developments and adoption of digital assets and changes in financial market and payment system infrastructures for the United States (aka <strong>How Mass Crypto Adoption Will Happen & How We Will Regulate It</strong>)</p></li> <li><p>The role of law enforcement agencies in detecting, investigating, and prosecuting criminal activity related to digital assets (aka <strong>How We Bring Down The Hammer</strong>)</p></li> <li><p>The potential for digital currency to impede or advance efforts to tackle climate change (aka <strong>Environmentalism on the Blockchain</strong>)</p></li> <li><p>A coordinated action plan for mitigating the digital‑asset-related illicit finance and national security risks (aka <strong>Lets Not Get Scammed</strong>)</p></li> <li><p>Our framework for enhancing United States economic competitiveness in, and leveraging of, digital asset technologies (aka <strong>How We Win the Global Digital Currency Market</strong>)</p></li> </ul> <p>By mid October 2022 we should expect:</p> <ul> <li><p>Draft legislation for a US CBDC</p></li> <li><p>A report outlining the specific financial stability risks and regulatory gaps posed by various types of digital assets and providing recommendations to address such risks (aka <strong>More Ways We Can Regulate Crypto</strong>)</p></li> </ul> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/bccrz_"> /u/bccrz_ </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tbikix/a_summary_of_the_us_executive_order_on_digital/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tbikix/a_summary_of_the_us_executive_order_on_digital/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>This is a summary of the “Executive Order on Ensuring Responsible Development of Digital Assets” signed by the President of the United States.</p> <p><strong>Part 1: Just Some General Statements</strong></p> <p>We want to regulate and/or supervise cryptocurrency makers & movers…we just don’t know how yet.</p> <p>We don’t want Russia to get around sanctions and we don’t like that we don’t have control of the digital money flow.</p> <p>If crypto is “happening”, then we want to be in charge.</p> <p>People are under banked and our financial systems are not equitable. Crypto could make things better…I guess.</p> <p>We want to <del>control</del> lead the development of digital currency.</p> <p><strong>Part 2: Who’s In Charge</strong></p> <p>Jake Sullivan and Keith Hennessey are technically in charge of getting all this done.</p> <p><strong>Part 3: The United States Central Bank Digital Currencies</strong></p> <p>We are getting off our asses and getting a move on CBDCs. We see the potential and want to be central to the global digital economy. Also…no way are you getting rid of the dollar.</p> <p>In 2020 we started the G7 report outlining a set of policy principles for CBDCs. We want other countries to stick to it.</p> <p><strong>Part 4: Reports, Reports, and Deadlines</strong></p> <p>By mid September 2022 one big (or a lot of smaller) report(s) will be coming out. These include:</p> <ul> <li><p>The future of money and payment systems (aka <strong>How We Could Design & Distribute a US CBDC</strong>)</p></li> <li><p>The implications of developments and adoption of digital assets and changes in financial market and payment system infrastructures for the United States (aka <strong>How Mass Crypto Adoption Will Happen & How We Will Regulate It</strong>)</p></li> <li><p>The role of law enforcement agencies in detecting, investigating, and prosecuting criminal activity related to digital assets (aka <strong>How We Bring Down The Hammer</strong>)</p></li> <li><p>The potential for digital currency to impede or advance efforts to tackle climate change (aka <strong>Environmentalism on the Blockchain</strong>)</p></li> <li><p>A coordinated action plan for mitigating the digital‑asset-related illicit finance and national security risks (aka <strong>Lets Not Get Scammed</strong>)</p></li> <li><p>Our framework for enhancing United States economic competitiveness in, and leveraging of, digital asset technologies (aka <strong>How We Win the Global Digital Currency Market</strong>)</p></li> </ul> <p>By mid October 2022 we should expect:</p> <ul> <li><p>Draft legislation for a US CBDC</p></li> <li><p>A report outlining the specific financial stability risks and regulatory gaps posed by various types of digital assets and providing recommendations to address such risks (aka <strong>More Ways We Can Regulate Crypto</strong>)</p></li> </ul> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/bccrz_"> /u/bccrz_ </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tbikix/a_summary_of_the_us_executive_order_on_digital/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tbikix/a_summary_of_the_us_executive_order_on_digital/">[comments]</a></span>Kind Regards R