Search Results for keywords:"Digital Assets"

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Search Results: keywords:"Digital Assets"

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  • 2021-01918 — Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets
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    Type:Proposed Rule
    Citation:86 FR 7352
    Reading Time:about 3 minutes

    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.

    Simple Explanation

    The government is thinking about making new rules for banks to tell them how to handle pretend money like Bitcoin when lots of it is being moved around. They want people to give their thoughts on these ideas, so they decided to give more time to share these opinions.

  • 2025-02123 — Strengthening American Leadership in Digital Financial Technology
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    Type:Presidential Document
    Citation:90 FR 8647
    Reading Time:about 6 minutes

    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.

    Simple Explanation

    The President made a plan to help the U.S. be a leader in new digital money technologies, like digital coins and blockchains, but decided not to use a digital version of the dollar. This plan also includes making new rules to keep these technologies safe and open for everyone.