President Biden’s March 9, 2022 Executive Order on Ensuring Responsible Development of Digital Assets, the White House announced in September 2022 the “first-ever comprehensive framework” on digital assets based on a series of reports from various federal government agencies and offices.
The reports, however, are far from a “comprehensive framework.” Instead, they are heavy on descriptions of risks and malfeasance of actors in the digital assets space, but light on concrete recommendations and substantive actions. This Alert Memorandum sets forth key takeaways from the reports, and describes, over six thematic areas, what industry participants can do in 2023 to prepare should some of the reports’ suggestions become more concrete. It also discusses throughout whether any changes in legislation, regulation, or enforcement can be expected.
Please click here to read the full alert memorandum.