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:...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 Government approach to digital assets....The United States must ensure appropriate controls and accountability for current and future digital assets systems to promote high standards for transparency, privacy, and security—including through regulatory, governance, and technological measures—that counter illicit activities and preserve or enhance the efficacy of our national security tools.....,
particularly in setting standards that promote: democratic values; the rule of law; privacy; the protection of consumers,...particularly for those Americans underserved by the traditional banking system,...that the benefits of financial innovation are enjoyed equitably by all Americans and that any disparate impacts of financial innovation are mitigated...
The technological architecture of different digital assets has substantial implications...climate change, the ability to exercise human rights, and other national goals...and reduces negative climate impacts and environmental pollution,
A United States CBDC [digital currencies issued by central banks. value is linked to the issuing country's official currency] may have the potential to support efficient and low-cost transactions,...with fewer of the risks posed by private sector-administered digital assets.
Within 180 days of the date of this order, the Secretary of the Treasury, in consultation with the Secretary of State, the Attorney General, the Secretary of Commerce, the Secretary of Homeland Security, the Director of the Office of Management and Budget, the Director of National Intelligence, and the heads of other relevant agencies, shall submit to the President a report on the future of money and payment systems,...the modernization of and changes to payment systems,...
this report shall include an analysis of:...(v) the extent to which foreign CBDCs could displace existing currencies...
The Chairman of the Board of Governors of the Federal Reserve System (Chairman of the Federal Reserve) is encouraged to continue to research and report on the extent to which CBDCs could improve the efficiency and reduce the costs of existing and future payments systems...
iii) Within 180 days of the date of this order, the Attorney General, in consultation with the Secretary of the Treasury and the Secretary of Homeland Security, shall submit to the President a report on the role of law enforcement agencies in detecting, investigating, and prosecuting criminal activity related to digital assets. The report shall include any recommendations on regulatory or legislative actions, as appropriate....
The report should specifically address:
(A) potential uses of blockchain that could support monitoring or mitigating technologies to climate impacts, such as exchanging of liabilities for greenhouse gas emissions, water, and other natural or environmental assets;...
b) Within 90 days of submission to the Congress of the National Strategy for Combating Terrorist and Other Illicit Financing,...
(c) Within 120 days of submission to the Congress of the National Strategy for Combating Terrorist and Other Illicit Financing,...
(d) Within 120 days following completion of all of the following reports...
(i) Within 120 days of the date of this order, the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Commerce, the Administrator of the United States Agency for International Development, and the heads of other relevant agencies, shall establish a framework for interagency international engagement with foreign counterparts and in international fora..
(ii) Within 1 year of the date of the establishment of the framework required by section 8(b)(i) of this order,...
(iii) Within 180 days of the date of this order, the Secretary of Commerce, in consultation with the Secretary of State, the Secretary of the Treasury, and the heads of other relevant agencies, shall establish a framework for enhancing United States economic competitiveness in, and leveraging of, digital asset technologies....
(iv) Within 90 days of the date of this order, the Attorney General, in consultation with the Secretary of State, the Secretary of the Treasury, and the Secretary of Homeland Security, shall submit a report to the President on how to strengthen international law enforcement cooperation for detecting, investigating, and prosecuting criminal activity related to digital assets...
(b) The term "central bank digital currency" or "CBDC" refers to a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the central bank.....
(d) The term "digital assets" refers to all CBDCs, regardless of the technology used, and to other representations of value, financial assets and instruments, or claims that are used to make payments or investments, or to transmit or exchange funds or the equivalent thereof, that are issued or represented in digital form through the use of distributed ledger technology. ...
Regardless of the label used, a digital asset may be, among other things, a security, a commodity, a derivative, or other financial product.
Stroke of the pen - Law of the land.
COOL!
Keep in mind there is a HUGE difference, diametrically opposed, between the CBDC and decentralized crypto like Bitcoin.
CBDC can be turned on or off, (like a bank account of a Canadian trucker) funneled, manipulated, created and destroyed at the command of the central bank, while BTC is decentralized, cannot be manipulated, created or destroyed, only lost by incompetence of it’s user.
BTC can be transparent by the record of the blockchain, but private and autonomous in how, where or who you do business with.
I know a lot of people are not convinced, but that difference I mention is important.