President Biden has signed an Executive Order outlining the first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology. According to a White House Fact Sheet, the Order lays out a national policy for digital assets across six key priorities: consumer and investor protection; financial stability; illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation.

After the announcement, crypto prices soared with Bitcoin (BTC-USD) trading at $41,791 (up 8%), Ethereum (ETH-USD) at $2,730 (up 7%), and Bitcoin Cash reached $300 (BCH-USD) (up+6%)

The executive order calls for measures to protect consumers, investors, and businesses, protect 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 equitable access to safe and affordable financial services, and support technological advances and ensure responsible development and use of digital assets