Here is the full text of Biden's executive order on cryptocurrencies


(b) Pursuant to the purposes set forth in Section 5(a) of this Order: (i) Within 180 days from the date of this Order, the Secretary of the Treasury, in consultation with the Secretary of Labor and the Heads of other agencies, including, where appropriate, the heads of independent regulatory agencies such as the FTC, SEC, CFTC, federal banking agencies, and the CFPB must submit to the President a report, or part of the report required by the Section 4 of this Order, regarding the implications of developments and adoption of digital assets and changes in the financial market and payment system infrastructures for consumers, investors and businesses in the United States and for equitable economic growth. A section of the report discusses the conditions that would drive mass adoption of different types of digital assets and the risks and opportunities such growth could present to US consumers, investors and businesses. UU., Highlighting the focus on how technological innovation can impact these efforts and with an eye on those most vulnerable to disparate impacts. The report will also include policy recommendations, including potential regulatory and legislative actions, as appropriate, to protect US consumers, investors and businesses. and support expanding access to safe and affordable financial services. The report will be coordinated through the interagency process described in Section 3 of this Order. (ii) Within 180 days from the date of this Order, the Director of the Office of Science and Technology Policy and the Chief Technology Officer of the United States, in consultation with the Secretary of the Treasury, the Chairman of the Reserve Federal, and the heads of other relevant agencies must submit to the president a technical assessment of the technology infrastructure, capacity, and expertise that would be needed in the relevant agencies to facilitate and support the introduction of a CBDC system if offered. The evaluation should specifically address the technical risks of the different designs, including with respect to emerging and future technological developments, such as quantum computing. The assessment should also include insights or recommendations about how the inclusion of digital assets in federal processes may affect the work of the United States government and the delivery of government services, including risks and benefits to cybersecurity, customer experience and the social safety net. programs. Evaluation is coordinated through the interagency process described in Section 3 of this Order. (iii) Within 180 days from the date of this order, the Attorney General, in consultation with the Secretary of the Treasury and the Secretary of Homeland Security, shall submit to the President a report on the role of law enforcement in the detection, investigation and prosecution of criminal activities related to digital assets. The report must include any recommendations for regulatory or legislative action, as appropriate. (iv) The Attorney General, the Chairman of the FTC, and the Director of the CFPB are encouraged to consider the effects, if any, that the growth of digital assets could have on competition policy. (v) The Chairman of the FTC and the Director of the CFPB are encouraged to consider the extent to which privacy or consumer protection measures may be used in their respective jurisdictions to protect users of digital assets and whether further action is necessary. additional. (vi) The Chairman of the SEC, the Chairman of the CFTC, the Chairman of the Federal Reserve, the Chairman of the Board of the Federal Deposit Insurance Corporation and the Comptroller of the Currency are encouraged to review the extent to which the Investor and market protection measures may be used in their respective jurisdictions to address the risks of digital assets and whether additional measures may be necessary. (vii) Within 180 days following the date of this Order, the Director of the Office of Science and Technology Policy, in consultation with the Secretary of the Treasury, the Secretary of Energy, the Administrator of the Environmental Protection Agency of the Environment Environment, the President of the Council of Economic Advisers, the Assistant to the President and the National Climate Advisor, and the heads of other relevant agencies, report to the President on the links between distributed ledger technology and economic resource transitions and energy in the short and medium term. long term. ; the potential of these technologies to hinder or promote efforts to combat climate change at home and abroad; and the impacts of these technologies on the environment. This report will be coordinated through the interagency process described in section 3 of this order. The report should also address the effect of cryptocurrency consensus mechanisms on power consumption, including investigation of possible mitigations and alternative consensus mechanisms and the design trade-offs these may entail. The report should specifically address: (A) potential uses of blockchain that could support technologies to monitor or mitigate climate impacts, such as trade obligations for greenhouse gas emissions, water, and other natural or environmental assets; and (B) implications for energy policy, including with respect to grid management and reliability, energy efficiency incentives and standards, and energy supply sources.