SDF's Statement to the Biden Administration’s First-Ever Digital Asset Executive Order

Today's White House Executive Order is a significant milestone, directing a first-of-its-kind government-wide strategy for digital currencies. It recognizes the need for clarity so the industry can continue to evolve, grow, and meet the ever-increasing enthusiasm and momentum we see for the sector. And, it also acknowledges that the promise of blockchain is no longer hypothetical and is here to stay.

The order’s direction to create more robust cooperation within the government is the progress we’ve been working towards, and we welcome it. We hope it leads to a future regulatory state where existing agencies have more clarity on how the existing regulatory framework can and should be applied to the blockchain industry and the identification of any gaps.

This call for collaboration cannot be an excuse to keep the industry from having a seat at the table. We've come too far in a short period of time to begin to shut outside perspectives out now. Especially as many of the agencies tapped in this directive are only now digging into the opportunities and potential risks this industry faces. If the desire to get this right is genuine, it's critical to include industry in the process.

Today marks a step towards determining the fate of a technology that will unlock a more equitable and accessible financial system. We are hopeful this is a sign of more participation and partnership to come.