Physical Address
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Dorchester Center, MA 02124
Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
With the authority that gives me as President from the Constitution and Laws of the United States of America, and in order to promote the United States leadership in digital assets and financial technology by protecting economic freedom, it is ordered as follows:
Section 1. Purpose and policies. (a) The digital assets industry plays a crucial role in innovation and economic development in the United States, as well as in the international leadership of our nation. Therefore, it is the policy of my administration to support the growth and responsible use of digital assets, blockchain technology and similar technologies in all sectors of the economy, including:
(i) Protecting and promoting the ability of individual citizens and private sector entities equally to enter and use for legitimate purposes open public networks without persecution, including the ability to develop and set software, to participate in Mines and verification, to conduct transactions with other persons without illegal censorship and to maintain self-preservation of digital assets;
(ii) promoting and protecting the sovereignty of the United States Dollar, including actions to promote the development and growth of sustainable legitimate and legitimate coins supported by the world;
(iii) protection and promotion of fair and open access to banking services for all individual citizens obeying the law and private sector entities;
(iv) Provision of clarity and regulatory security built on neutral regulations to technology, frameworks that take into account developing technologies, transparent decision -making and regulatory limits of well -defined jurisdiction, all of which are essential for supporting a living economy and innovation and comprehensive in digital assets, illegal blocking chains, and scattered book technologies; AND
(v) taking measures to protect Americans from the dangers of Central Bank digital currencies (CBDC), which threaten the stability of the financial system, individual privacy and sovereignty of the United States, including stopping, emission, circulation, and the use of a CBDC within the jurisdiction of the United States.
Sec. 2. Definitions. (a) for the purposes of this order, the term ”Digital asset ”refers to any digital value representation recorded in a scattered book, including cryptocurrencies, digital arguments and durable coins.
(b) The term “blockchain” means any technology where data are:
(i) is divided through a network to create a public book of transactions or verified information between network participants;
(ii) related using cryptography to maintain the integrity of the public book and to execute other functions;
(iii) distributed among the network participants in automated manner to update the network participants on the state of the public book and any other function; AND
(iv) consisting of the source code that is publicly available.
(c) “Central Bank digital maneas” means a form of digital money or monetary value, expressed in the national account unit, which is a direct obligation of the Central Bank.
Sec. 3. Revocation of Executive order 14067 and Department of the Treasury Frame of 7 July 2022. (a) Executive Order 14067 dated 9 March 2022 (providing responsible development of digital assets) is revoked.
(b) The Treasury Secretary is instructed to revoke the “Treasury Department” immediatelyFramework for international engagement in digital assets”, Issued on July 7, 2022.
(c) All policies, directives and guidelines issued in accordance with the Executive Order 14067 and the Framework of the Treasury Department for International Commitment on Digital Assets shall be repealed or will be canceled by the Treasury Secretary, as appropriate, to the extent that they are not in compliance with the provisions of this order.
(d) The Treasury Secretary shall take all the necessary measures to ensure compliance with the policies set forth in this order.
Sec. 4. Establishment of the President‘Working group for digital assets markets. (a) The National Economic Council is created by the President’s Working Group on the Digital Markets of Assets (Labor Group). Work group will be headed by Special advisor to him and Crypto (Chairs). In addition to the chairperson, the working group will include the following officials, or their name:
(i) The Secretary of the Treasury;
(ii) Prosecutor General;
(iii) Secretary of Trade;
(iv) Secretary of National Security;
(v) Director of the Management and Budget Office;
(vi) the president’s assistant to national security issues;
(vii) the president’s assistant to national economic policies (APEP);
(VIII) the president’s assistant to science and technology;
(ix) National Security Advisor;
(x) Chairman of the Securities Commission; AND
(xi) the chairman of the Future Trade of goods
Commission.
(XII) As appropriate and in accordance with applicable law, the Chairman may invite the leaders of other executive departments and agencies (agencies), or other senior officials within the President’s Executive Office to attend the group meetings Work, based on the importance of their expertise and responsibilities.
(b) Within 30 days from the date of this order, the Department of Treasury, the Department of Justice, the Securities Commission and other relevant agencies, whose executives are included in the working group, will identify all Regulations, Guide Documents, Ordersor other articles affecting the digital assets sector. Within 60 days from the date of this order, each agency shall submit to the Chairperson Recommendations regarding whether any regulation identified, guiding document, order or other item must be canceled or modified, or, for items other than regulations, approved in a regulation.
(c) Within 180 days from the date of this order, the working group shall submit a report to the President, through Apep, which will recommend regulatory and legislative proposals that advance the policies set forth in this order. In particular, the report will focus on the following:
(i) The working group shall propose a federal regulatory framework that regulates the issuance and functioning of digital assets, including sustainable coins, in the United States. The job group report will consider the provisions on market structure, supervision, consumer protection and risk management.
(ii) The working group shall evaluate the possible creation and maintenance of a national stock of digital assets and propose criteria for creating such a stock, which may be derived from cryptocurrencies legally seized by the federal government through its efforts for law enforcement.
(d) The Chairman appoints an executive director of the working group, who will be responsible for coordinating his daily functions. On issues affecting national security, the working group consults with the National Security Council.
(e) As appropriate and in accordance with the law, the working group shall hold public hearing and receive individual expertise from leaders in digital assets and digital markets.
Sec. 5. Prohibition of Central Bank digital coins.
(a) Except for the measure required by lawAgencies are forbidden to take any action to create, issue or promote CBDC within or outside the United States jurisdiction.
(b) With the exception of the measure required by law, any continuous plan or initiative in any agency related to the creation of a CBDC within the jurisdiction of the United States shall be interrupted immediately and cannot be taken further action for development or implementation Such plans or initiatives.
Sec. 6. Separation. (a) If any provision of this order, or the application of any provision for any person or circumstance, shall be considered invalid, the remainder of this order and the application of its provisions to any person or other circumstance shall not be affected by this.
Sec. 7. General provisions. (a) Nothing in this ranking will be interpreted to harm or affect:
(i) Authority provided by law an executive department, agency or its leader; OR
(ii) Functions of the Director of the Management and Budget Office regarding budgetary, administrative or legislative proposals.
(b) This order shall be implemented in accordance with the legislation in force and depending on the availability of budget allocations.
(c) This order is not intended and does not create any right or benefit, essential or procedural, applicable by law or equality by any party against the United States, departments, agencies or its entities, officers, employees , or agents, or any other person.
White House,
January 23, 2025.