The Biden administration issued its much-anticipated cryptocurrency executive order, laying out a wide-ranging investigation into digital assets to gain at least a preliminary grasp on how to address the rapidly growing $3 trillion financial market and its role in ransomware and other illicit activities. The order, entitled “Ensuring Responsible Development of Digital Assets,” outlines a series of far-reaching goals, including reducing the risks that digital assets could pose to consumers and investors, improving business protections, financial stability, and financial system integrity, combating and preventing crime and illicit finance, enhancing national security, fostering human rights and financial inclusion, and addressing climate change and pollution.
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