USA’s step towards digital dollar. On 9 March 2022 the U.S President Joe Biden signed the Executive Order on
cryptocurrencies (Order). The Order stipulates that Ministry of the Treasury, Ministry of Commerce, and some other
public organizations will prepare research reports for the creation of a comprehensive digital asset strategy and submit
it to the Presidency. Since necessary technological infrastructure for the electronic version of dollar bills will also be
investigated pursuant to the Order, it is commented that we may encounter the application of “digital dollar” in the future.
In addition, Order emphasizes that even though unique and diverse features of digital assets may pose significant
financial risks for investors, regulations can mitigate this risk. It is also stated that steps will be taken on matters such
as preventing money laundering, ensuring financial participation, and protecting consumers.
You can reach the full text of the Order here