White House unveils first steps toward new policies supporting cryptocurrencies and digital financial technology

The new administration has promised to provide clear regulatory guidance regarding cryptoassets to promote innovation, in a marked shift from the risk-focused approach under its predecessor. A new executive order revokes all of the Biden administration’s digital asset policies and emphasizes promoting open blockchain networks and dollar-backed stablecoins. It also prohibits U.S. central bank digital currencies and ordered a study of a possible federal strategic cryptocurrency reserve…