Strengthening American Leadership in Digital Financial Technology

This executive order revokes the Biden administration's digital asset framework (EO 14067) and establishes a new pro-crypto policy direction, creating a presidential working group to develop regulatory frameworks for stablecoins and a potential national digital asset stockpile. It also prohibits federal agencies from establishing or promoting central bank digital currencies (CBDCs) and directs banking access protections for law-abiding crypto participants.

Federal Register Open PDF 90 FR 8647

Impact dates

Jul 22, 2025
Working Group submits report with regulatory/legislative proposals including stablecoin framework and national digital asset stockpile criteria
Mar 24, 2025
Agencies submit recommendations for rescission, modification, or regulatory adoption
Feb 22, 2025
Agencies identify regulations, guidance, orders affecting digital asset sector

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Banking & finance Technology & software Other industrial

Mechanisms

Ban / prohibitionProcurementLicensing

Role pressure

ProtectiveDomestic producer — US-based crypto exchanges, miners, and stablecoin issuers benefit from regulatory clarity, banking access protections, and CBDC prohibition removing potential Fed competitor
MixedDownstream manufacturer — Financial institutions gain clearer compliance boundaries but face pressure to service crypto clients; fintechs benefit from technology-neutral framework promise but await 180-day report
UncertainImporter — Foreign crypto service providers face uncertain US market access pending stablecoin framework and jurisdictional clarity in Working Group report

Geographies

US OTHER

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

MMM3MGOOGLAlphabetAAPLAppleBACBank of AmericaBLKBlackRockCATCaterpillarFCXFreeport-McMoRanGEVGE VernovaGSGoldman SachsHONHoneywellHSBCHSBCQQQInvesco QQQ TrustJPMJPMorgan ChaseMETAMeta PlatformsMSFTMicrosoftNVDANVIDIAORCLOracleSPYSPDR S&P 500 ETF

Confidence: medium · Policy alerts

Key directives

Revoke EO 14067 and Treasury's July 7, 2022 Framework immediately
Rescind all policies inconsistent with this order
Establish President's Working Group on Digital Asset Markets within NEC
Identify digital asset regulations within 30 days
Submit rescission/modification recommendations within 60 days
Submit comprehensive report with stablecoin framework and stockpile proposal within 180 days
Prohibit agency establishment, issuance, or promotion of CBDCs
Terminate all ongoing CBDC plans and initiatives immediately

Timeline

Immediate

Revocation of EO 14067
Revocation of Treasury's July 7, 2022 Framework
Termination of ongoing CBDC initiatives
Establishment of Working Group

Near term (90d)

Agency identification of digital asset regulations (30 days)
Agency recommendations for rescission/modification (60 days)

Long term

Working Group report with regulatory and legislative proposals (180 days)
Potential federal stablecoin framework
Potential national digital asset stockpile
Technology-neutral regulatory clarity

Risks & tensions

CBDC prohibition may conflict with international standards or future statutory requirements ('except to the extent required by law')
Banking access mandate for 'law-abiding' crypto entities may create tension with existing AML/KYC frameworks and prudential regulators
Working Group includes SEC and CFTC chairs who have historically clashed over digital asset jurisdiction
National digital asset stockpile proposal raises custody, valuation, and market manipulation concerns
Revocation of prior framework creates regulatory uncertainty during 180-day report period
Definition of 'blockchain' requiring publicly available source code may exclude permissioned or proprietary distributed ledgers