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The Executive Order 14178 aims to enhance U.S. leadership in digital financial technology by promoting the growth of digital assets and blockchain technology. It supports the development of stablecoins while preventing the introduction of Central Bank Digital Currencies (CBDCs) in the U.S. The order revokes previous guidelines on digital assets and establishes a President's Working Group to create a new regulatory framework for the sector. It ensures people's ability to use digital networks freely and emphasizes protection against private monetary alternatives to the U.S. dollar.

The Treasury Department and IRS have issued final regulations that update the rules for classifying transactions involving digital content and cloud services. These updates help clarify how transactions like software downloads and streaming services are taxed, especially in international contexts. The new rules replace the previous "de minimis" standard with a "predominant character" rule to simplify determining the main purpose of such transactions. Examples in the regulations provide further guidance, and while the new rules are effective for tax years starting on or after January 14, 2025, businesses can also choose to apply them to earlier years.

The U.S. Agency for International Development (USAID) has announced a proposed information collection, inviting the public to participate in a survey connected to the 2025 Digital Development Awards. This survey aims to help select award winners who utilize digital technology for inclusive growth. Comments and recommendations on the survey are due by February 24, 2025. This action is in compliance with legal requirements, as USAID must notify the public and gain approval from the Office of Management and Budget before conducting such collections.

The Securities and Exchange Commission (SEC) has issued a statement and is seeking public comments on the safekeeping of digital asset securities by broker-dealers. They highlight the need for innovation in applying existing protection rules to digital assets, which have unique risks like fraud and theft. The SEC proposes a five-year period during which broker-dealers who follow specific guidelines won't face enforcement action if they can show they've taken reasonable steps to control and secure digital asset securities. This initiative aims to balance investor safety with the advancement of the digital asset market.

The Federal Aviation Administration (FAA) has issued a new airworthiness directive (AD) for certain Thommen AC32 Digital Air Data Computers due to malfunctions occurring at low temperatures. This rule mandates the replacement of defective computers with ones that work correctly to ensure aircraft safety. Effective from May 15, 2025, the directive also includes additional helicopter models that might be affected and prohibits installing faulty parts on any aircraft. The rule aims to prevent issues with navigational data that could compromise flight control.

The Financial Crimes Enforcement Network (FinCEN) published a proposed rule on December 23, 2020, aimed at implementing new reporting and recordkeeping requirements for transactions involving convertible virtual currency (CVC) and legal tender digital assets (LTDA). These requirements are part of efforts to address illicit financial activities such as money laundering and the financing of terrorism. The proposal includes mandatory reporting for transactions over $10,000 involving these assets, as well as maintaining records for transactions over $3,000. In response to public feedback, FinCEN has reopened the comment period to gather more input on these proposals and their implications for financial institutions, technology, and regulatory compliance.

The Office of the United States Trade Representative (USTR) has issued a notice regarding Spain's Digital Services Tax (DST), which they believe is unfair and discriminatory against U.S. digital companies. The tax, which Spain enacted to collect fees on certain digital services, is seen as a burden on U.S. commerce and is actionable under Section 301 of the Trade Act. After an investigation and consultations with Spain, the USTR determined that Spain’s DST discriminates against specific U.S. companies and contradicts international tax principles. This ruling will lead to further proceedings to decide potential actions against Spain.

On December 23, 2020, FinCEN proposed new rules for banks and money services businesses about how they handle transactions with virtual currencies or digital assets that have legal tender status. These rules focus on transactions over $10,000 and involve specific types of digital wallets. Initially, feedback was allowed until January 7, 2021, but the comment period was reopened for more input. This document further extends the deadline for comments to March 29, 2021, allowing more time for feedback on the proposed rules.

The Federal Communications Commission (FCC) announces a meeting of its Advisory Committee on Diversity and Digital Empowerment (ACDDE) to be held on February 11, 2021. The meeting will be accessible online to the public and will feature reports from various working groups on topics such as access to capital for diverse media ownership and encouraging diversity in the tech industry. The ACDDE aims to provide recommendations to the FCC on empowering disadvantaged communities and supporting small businesses in media and digital sectors. Public comments can be submitted via the FCC's online comment system.

The Office of the United States Trade Representative (USTR) has issued a notice regarding India's Digital Services Tax (DST). The USTR found that India's DST is unfair or discriminatory and negatively impacts U.S. businesses. This tax applies only to non-resident companies and is imposed on revenue instead of income, which is against international tax principles. Further actions will be considered under Section 301 of the Trade Act to address these issues.