Earlier today, President Biden issued an “Executive Order Ensuring Responsible Development of Digital Assets” setting forth a “whole-of-government approach” to address the potential risks and benefits of digital assets and their underlying technology. Noting the rapid growth of digital assets, the Executive Order outlines six priorities for a coordinated federal framework for the regulation of digital assets: (1) consumer and investor protection; (2) financial stability and systemic risk; (3) prevention of illicit finance and national security; (4) U.S. leadership in the global financial system and economic competitiveness; (5) financial inclusion; and (6) responsible innovation. The Executive Order requires various government entities to coordinate with one another, to submit reports on these and other topics and to suggest next steps for regulatory and legislative action. Although the Executive Order does not provide for any immediate actions, it reflects the White House’s desire for a coordinated and proactive approach to digital asset regulation.