At more than 5,500 words, the March 9, 2022, Executive Order on Ensuring Responsible Development of Digital Assets is ambitious in scope and covers various policy objectives associated with cryptocurrencies and other digital assets. Implementation of the Executive Order—including potential legislation—could significantly shape the legal landscape of many aspects of digital assets and related technologies.
The Executive Order follows a string of important developments in the United States over the past several months and is an important milestone in the broader digital assets discussion. Building on our Three Initial Takeaways From the Federal Reserve CBDC Discussion Paper, here we offer five high-level takeaways before discussing the Executive Order's key topics, which include a United States central bank digital currency.
Members of Davis Wright Tremaine's Digital Assets and Blockchain Team will be monitoring relevant developments stemming from this Executive Order.