At a glance.
- US digital currency Executive Order expected.
- Pending decision on Standard Contractual Clauses will affect Big Tech.
- US Department of Justice will prioritize protection.
- US IRS retreats from biometrics.
White House to issue digital currency executive order.
Yahoo reports that an executive order concerning digital currency regulation is expected from US President Joe Biden in the near future. The order will direct several federal agencies, including the Departments of Treasury, State, Justice, and Homeland Security, to examine cryptocurrencies and a central bank digital currency (CBDC) in order to establish a comprehensive digital currency regulation strategy. The Director of the Office of Science and Tech policy will also be asked to conduct a technical evaluation of the needed federal support for a CBDC system, and the Treasury Department will work with the Securities and Exchange Commission, the Commodities Futures and Trading Commission, to report on measures for safeguarding consumers, investors, and private companies. The Chairman of the Federal Trade Commission and the Director of the Consumer Financial Protection Bureau will focus on the privacy issues posed by cryptocurrency, and the Office of Science and Technology Policy will look at digital distributed ledger technology.
Looking globally, the State, Treasury, and Commerce Department and USAID will be tasked with creating a framework for engagement with foreign counterparts in an international forum to…
