The six key priorities identified in the Executive Order released on March 9, 2022, are:
- Consumer and investor protection
- Promoting financial stability
- Countering illicit finance
- S. leadership in the global financial system and economic competitiveness
- Financial inclusion
- Responsible innovation
Outlining an inter-agency coordination approach to address risks resulting from the growth of digital assets and blockchain technology while supporting responsible innovation.
The Framework for Responsible Development of Digital Assets fact sheet is organized around seven main recommendations with respect to cryptocurrencies:
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Protecting consumers, investors, and businesses |
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Promoting financial inclusion |
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Countering illicit finance |
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Reinforcing US financial leadership and economic competitiveness |
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Fostering Financial Stability |
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Advancing responsible innovation |
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Exploring a US central bank digital currency (CBDC) |
A U.S. CBDC (digital form of the U.S. dollar) could bring significant benefits. However, the Federal Reserve is encouraged to continue its ongoing CBDC research, experimentation, and evaluation before implementing. |
Governments against ransomware:
The members of the International Counter Ransomware Initiative (“CRI”) met in Washington at the end of October 2022 to debate on the prevention of cyberattacks, ransomware and money laundering using digital assets.
The CRI members published a joint statement with goals to achieve including:
- Combat ransomware actors’ ability to profit from illicit proceeds by implementing and enforcing anti-money laundering and countering the financing of terrorism (AML/CFT) measures for virtual assets and VASPs
- Collaborate in disrupting ransomware by sharing information to ensure national cyberinfrastructure is not being used in ransomware attacks
- Hold ransomware actors accountable
- Disrupt and bring to justice ransomware actors and their enablers
How Apex can help
- VASP / CASP Due diligence
- Crypto/Virtual Asset/ VASP- CASP Licensing
- Crypto AML & Compliance support
- Crypto AML Business Risk Assessment (AML BRA)
- Crypto Risk management
- Crypto Training
