Following the March 9th order of Joe Biden, which signed his 82nd Executive Order, addressing the Direct Regulatory Framework for Crypto, is scheduled to be submitted to the White House on Sept. 5. labor day
The executive order highlighted the need for interagency cooperation. The details are as follows.
- The Treasury: A report on the central bank digital currency, or CBDC, with a particular interest in cooperation with the Federal Reserve. CBDCs have become a topic of debate in Washington since the executive order was introduced.
- Office of Science and Technology: Technical Analysis of the Difficulty and Feasibility of CBDC Implementation
- Justice Department: Legal assessment of whether Congress needs to enact new legislation to issue a CBDC, which Republicans insist it is.
- Ministry of Finance and Consumer Protection Regulators: Report on the risks and rewards of digital assets in the marketplace and payments.
- Office of Science and Technology Policy: A report on the role of crypto in energy transition over time, this issue remains controversial. Crypto critics often point to cryptocurrency mining. Proof-of-Work that is an unforgivable waste of electricity Crypto stakeholders say that PoW can generate income from developing renewable energy sources.
- Ministry of Justice With the help of the Ministry of Finance and the Department of Homeland Security: The Role of Law Enforcement Agencies in the “Detection, Investigation, and Criminal Prosecution of Digital Assets” by the Department of Justice’s FBI, Department of Treasury’s Revenue Department, and the Ministry of Homeland Security Leading major federal crypto investigations
- Department of Commerce: A Framework for Increasing U.S. Economic Competitiveness and utilization of digital asset technology
Some of Biden’s executive orders have now been responded to by the Department of Justice and the Treasury. by focusing on an international perspective
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