President Biden Signs Order on Digital Assets
Yesterday, March 9th, 2022, President Biden signed an executive order regarding the protection of digital assets. The main objectives of the order include:
- Protect U.S. consumers, investors, and businesses
- Protect U.S. and global financial stability and mitigate systemic risk
- Mitigate the illicit finance and national security risks posed by the illicit use of digital assets
- Promote U.S. leadership in technology and economic competitiveness to reinforce U.S. leadership in the global financial system
- Promote equitable access to safe and affordable financial services
- Support technological advances and ensure responsible development and use of digital assets
- Explore a U.S. Central Bank Digital Currency (CBDC)
Jon-Jorge Aras, Partner and Chair of Securities Litigation at Warren Law Group comments on the matter, “President Biden’s executive order is a positive signal for the future of digital assets in the U.S. This administration is embracing the future of technology and wants to ensure that the U.S. financial markets maintain a competitive advantage on the global stage. With that said, the specter of the regulation still looms over cryptocurrency and we will see the framework of that oversight coming together soon. I expect the Securities and Exchange Commission will continue to ramp its activity across the crypto industry.”
If you have obtained a large crypto portfolio it is highly important that you are protecting your assets properly. In order to ensure your portfolio is safeguarded, you must seek legal counsel that is experienced in handling digital assets. Contact the attorneys at Warren Law Group at (866) WLGROUP or email info@warren.law to schedule your complimentary consultation.
