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3. Coordination. The Assistant to the President for National Security Affairs (APNSA) and the Assistant to the President for Economic Policy (APEP) shall collaborate, through the interagency procedure described in National Security Memorandum 2 of February 4, 2021 (Renewing the National Security Council System), the executive branch actions needed to execute this order.

Agents of other executive departments and companies (companies) and other senior officials may be invited to participate in interagency conferences as proper, including, with due respect for their regulatory independence, representatives of the Board of Governors of the Federal Reserve System, the Consumer Financial Defense Bureau (CFPB), the Federal Trade Commission (FTC), the Securities and Exchange Commission (SEC), the Product Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and other Federal regulatory companies.

4. Policy and Actions Related to United States Reserve Bank Digital Currencies. (a) The policy of my Administration on a United States CBDC is as follows:(i) Sovereign money is at the core of a well-functioning financial system, macroeconomic stabilization policies, and economic growth.  Find More Details On This Page  places the greatest urgency on research study and advancement efforts into the prospective style and implementation options of a United States CBDC.

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(ii) My Administration sees benefit in showcasing United States leadership and participation in international fora connected to CBDCs and in multicountry conversations and pilot jobs including CBDCs. Any future dollar payment system should be developed in a method that follows United States top priorities (as laid out in area 4(a)(i) of this order) and democratic values, consisting of personal privacy protections, and that ensures the worldwide monetary system has proper openness, connection, and platform and architecture interoperability or transferability, as appropriate.(iii) A United States CBDC may have the possible to support effective and low-cost transactions, particularly for crossborder funds transfers and payments, and to foster greater access to the financial system, with less of the risks presented by personal sector-administered digital possessions.