Presidential Documents Ensuring Responsible Development of Digital Assets Executive Order 14067 of March 9, 2022

 Blogger note:  A long read of What is going on ..What is happening and how FAST Also see for a quick overview https://www.coinfirm.com/blog/whs-executive-order-on-digital-assets/

You can read it al right HERE :  https://www.govinfo.gov/content/pkg/FR-2022-03-14/pdf/2022-05471.pdf

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Executive Order 14067 of March 9, 2022
Ensuring Responsible Development of Digital Assets

 
By the authority vested in me as President by the Constitution and the
laws of the United States of America, it is hereby ordered as follows:
Section 1. Policy. Advances in digital and distributed ledger technology
for financial services have led to dramatic growth in markets for digital
assets, with profound implications for the protection of consumers, investors,
and businesses, including data privacy and security; financial stability and
systemic risk; crime; national security; the ability to exercise human rights;
financial inclusion and equity; and energy demand and climate change.
In November 2021, non–state issued digital assets reached a combined market
capitalization of $3 trillion, up from approximately $14 billion in early
November 2016. Monetary authorities globally are also exploring, and in
some cases introducing, central bank digital currencies (CBDCs).
While many activities involving digital assets are within the scope of existing
domestic laws and regulations, an area where the United States has been
a global leader, growing development and adoption of digital assets and
related innovations, as well as inconsistent controls to defend against certain
key risks, necessitate an evolution and alignment of the United States Govern-
ment approach to digital assets. The United States has an interest in respon-
sible financial innovation, expanding access to safe and affordable financial
services, and reducing the cost of domestic and cross-border funds transfers
and payments, including through the continued modernization of public
payment systems. We must take strong steps to reduce the risks that digital
assets could pose to consumers, investors, and business protections; financial
stability and financial system integrity; combating and preventing crime
and illicit finance; national security; the ability to exercise human rights;
financial inclusion and equity; and climate change and pollution.
Sec. 2. Objectives. The principal policy objectives of the United States with
respect to digital assets are as follows:
(a) We must protect consumers, investors, and businesses in the United
States. The unique and varied features of digital assets can pose significant
financial risks to consumers, investors, and businesses if appropriate protec-
tions are not in place. In the absence of sufficient oversight and standards,
firms providing digital asset services may provide inadequate protections
for sensitive financial data, custodial and other arrangements relating to
customer assets and funds, or disclosures of risks associated with investment.
Cybersecurity and market failures at major digital asset exchanges and trading
platforms have resulted in billions of dollars in losses. The United States
should ensure that safeguards are in place and promote the responsible
development of digital assets to protect consumers, investors, and businesses;
maintain privacy; and shield against arbitrary or unlawful surveillance, which
can contribute to human rights abuses.
(b) We must protect United States and global financial stability and mitigate
systemic risk. Some digital asset trading platforms and service providers
have grown rapidly in size and complexity and may not be subject to
or in compliance with appropriate regulations or supervision. Digital asset
issuers, exchanges and trading platforms, and intermediaries whose activities
may increase risks to financial stability, should, as appropriate, be subject
to and in compliance with regulatory and supervisory standards that govern
traditional market infrastructures and financial firms, in line with the general...