Banking & Finance
Presidential Executive Orders
-
January 20, 2025 (W.H. Link) - The order asserts that the previous administration implemented unpopular and harmful practices, including embedding "diversity, equity, and inclusion" (DEI) into Federal institutions, which it claims undermines merit and equality. It criticizes open border policies for straining resources and climate policies for driving inflation and overregulation. Relevant executive orders revoked include:
Executive Order 14137 of January 3, 2025 (Providing an Order of Succession Within the Department of the Treasury).
The Presidential Memorandum of January 3, 2025 (Designation of Officials of the United States International Development Finance Corporation to Act as Chief Executive Officer).
The order mandates the immediate termination of Federal implementation of "unlawful and radical DEI ideology" by agency heads (SEE RELATED EXECUTIVE ORDER). It further directs the Directors of the Domestic Policy Council (DPC) and National Economic Council (NEC) to review actions taken under previous administration directives, recommending within 45 days which should be rescinded, replaced, or amended to "enhance American prosperity." Additionally, the National Security Advisor (NSA) must review all National Security Memoranda (NSMs) issued between January 20, 2021, and January 20, 2025, to identify any harm to national security, domestic resilience, or American values, and provide recommendations for rescission within the same timeframe.
-
January 23, 2025 (W.H. Link) - This order aims to promote U.S. leadership in digital assets and financial technology while ensuring economic liberty. It emphasizes responsible growth, innovation, and regulatory clarity in the digital asset sector while protecting the U.S. dollar's sovereignty and individual freedoms. The key elements include support for lawful, open blockchain networks and individual access to digital assets, the promotion of dollar-backed stablecoins worldwide, the creation of clear, technology-neutral regulatory frameworks, and a prohibition of Central Bank Digital Currencies (CBDCs).
The order rescinds Executive Order 14067 and other Treasury policies inconsistent with the new order.
The order establishes a Working Group on Digital Asset Markets to evaluate appropriate regulations. The group is tasked with recommending changes to existing regulations and proposing a comprehensive federal framework for digital assets. Notably, the order instructs the Group to explore the creation of a national digital asset stockpile from seized cryptocurrencies.
-
February 3, 2025 (W.H. Link) - This executive order directs the establishment of a sovereign wealth fund to enhance the long-term financial stability and international economic leadership of the United States. The fund aims to promote fiscal sustainability, reduce tax burdens on American citizens and businesses, ensure economic security for future generations, and strengthen U.S. strategic interests. The order assigns the Secretary of the Treasury and the Secretary of Commerce, in coordination with the Assistant to the President for Economic Policy, to develop a comprehensive plan for the fund. This plan, to be submitted within 90 days, must outline funding mechanisms, investment strategies, governance structure, and legal considerations, including any potential legislative requirements.
The order also clarifies that it does not override existing legal authorities or budgetary responsibilities of federal agencies. It emphasizes compliance with applicable laws and funding constraints while explicitly stating that it does not create any enforceable legal rights for individuals or entities.