Digital Assets Defined: Federal Agencies Weigh Response to President Biden's Executive Order on Digital Assets
On March 9, 2022, President Biden issued Executive Order 14067, "Ensuring Responsible Development of Digital Assets." The EO, which we discussed in "White House Issues Executive Order Calling for Inter-Agency Study of Digital Assets," required a number of federal agencies to issue reports regarding issues raised by digital assets with respect to each agency's area of jurisdiction. Those agencies have now issued nine reports, covering topics ranging from central bank digital currencies to anti-money laundering to the climate and energy implications of creating and using digital assets.
In this White Paper, we discuss the high-level takeaways from each report, and what they likely mean for the future development and regulation of digital assets going forward. In two follow-on papers, we will take a closer look at the reports prepared by the White House Office of Science and Technology Policy, and the Department of Treasury.
