Waters Statement on President Biden's Executive Order on Digital Assets, Including Cryptocurrencies, Stablecoins, and Central Bank Digital Currencies

Hearing

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released the following statement in response to President Biden's Executive Order on Digital Assets:
"President Biden's Executive Order on digital assets is an important step in furthering our understanding of how cryptocurrencies and other digital assets will shape the future of our financial system and of our society. Of particular note, I am heartened to see that the Executive Order places an emphasis on studying the potential of a U.S. central bank digital currency (CBDC). With working families across the country looking to rebuild from the pandemic by turning to financial alternatives like cryptocurrency, ensuring that people are not vulnerable to fraud, manipulation, and abuse is imperative.

"As Chairwoman of the Financial Services Committee, I am proud that our Committee has been a leader in exploring the emergence of digital assets, convening hearings and briefings on cryptocurrency-related investor and consumer protection issues, the potential of central bank digital currencies, the role of cryptocurrency market exchanges, and the rapid rise of stablecoins.

"My Committee looks forward to working closely with the Administration on digital assets. We will continue to lead on this subject by holding additional digital assets hearings, and considering appropriate legislation."

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