The Report responds to Section 4(b) of the EO and evaluates the U.S. system of money and payments, developments in stablecoins and instant payment systems, and a potential CBDC, using the following policy objectives as a guide: (1) provide benefits and mitigate risks for consumers, investors, and businesses; (2) promote economic growth and financial stability and mitigate systemic risk; (3) improve payment systems; (4) ensure the global financial system has appropriate transparency, connectivity, and platform and architecture interoperability; (5) advance financial inclusion and equity; (6) protect national security; (7) protect human rights; and (8) align with democratic and environmental values, including privacy protections.

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