Crypto Freedom Boost: No Gov Digital Dollar, Yes to Blockchain Innovation
Published Date: 1/31/2025
Presidential Document
Summary
The U.S. government is boosting America’s role in digital money and tech by supporting safe and fair use of cryptocurrencies, blockchain, and stablecoins. This means protecting your right to use digital assets freely, making banking more open, and stopping risky government digital currencies. These changes kick off now and aim to keep innovation strong while guarding your privacy and financial freedom.
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Analyzed Economic Effects
7 provisions identified: 6 benefits, 0 costs, 1 mixed.
Protect Open Access to Banking Services
The order directs actions to promote and protect fair and open access to banking services for all law-abiding individual citizens and private-sector entities alike.
Right to Use Public Blockchains
You and private companies are protected to access and use open public blockchain networks for lawful purposes, including developing and deploying software, mining and validating, transacting without unlawful censorship, and maintaining self-custody of digital assets.
Support for Dollar-Backed Stablecoins
The Administration will promote the development and growth of lawful dollar-backed stablecoins worldwide as part of protecting the sovereignty of the U.S. dollar.
Regulatory Clarity for Digital Assets
The order calls for regulatory clarity built on technology-neutral rules, frameworks that account for emerging technologies, transparent decision making, and clear jurisdictional boundaries to support the digital asset economy.
Ban on U.S. Central Bank Digital Currency
Except to the extent required by law, agencies are prohibited from undertaking any action to establish, issue, or promote a Central Bank Digital Currency (CBDC) within the jurisdiction of the United States, and any ongoing agency plans related to creating a CBDC shall be terminated immediately.
Working Group to Propose Federal Rules
The President's Working Group on Digital Asset Markets is established and must, within 180 days of January 23, 2025, submit a report recommending regulatory and legislative proposals, including a proposed Federal regulatory framework governing issuance and operation of digital assets and stablecoins.
Evaluation of National Digital Asset Stockpile
The Working Group must evaluate creating and maintaining a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially using cryptocurrencies lawfully seized by the Federal Government.
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Key Dates
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