President Biden issued an executive order on ensuring responsible innovation in digital assets on Wednesday, which was about as uneventful as it sounds.
The order basically makes sure that federal agencies are on the same page in researching and observing the national security implications of the crypto industry.
U.S. Sen. Mark Warner (D-VA) said today that the executive order “does a commendable job of balancing the potential opportunities and benefits of digital assets in financial innovation, economic inclusion, and global payments modernization against the risks and challenges they present to core U.S. interests.”
“I applaud the executive order’s recognition that maintaining the centrality of the United States in the global financial system – and, in particular, the role of American governance standards and the primacy of the U.S. dollar – is absolutely fundamental to our efforts with regard to digital assets,” said Warner, the chair of the Senate Intelligence Committee. “The EO’s urgency with respect to a strategy for a U.S. Central Bank Digital Currency (CBDC) is especially welcome, and I look forward to working with the administration on further steps to engage on international norms and standards related to CBDCs.
“Today, we face a highly motivated adversary that is actively searching for opportunities to evade the substantial sanctions imposed by the Biden administration and our allies around the globe. We must ensure that all participants in the digital assets marketplace are actively complying with sanctions, and we need to develop clearer guardrails and improved enforcement to address fraud, illicit finance, and insecurity in the wider digital assets industry,” Warner said.
Story by Chris Graham
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