President Trump Signs Executive Order to Create National Digital Asset Stockpile
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President Donald Trump has signed a crypto-focused executive order establishing a framework for digital assets. The order introduces the Presidential Working Group on Digital Asset Markets. It evaluates the creation of a national digital asset stockpile. Presidential Working Group and National Digital Asset Stockpile The executive order creates the Presidential Working Group on Digital Asset Markets, which will be led by David Sacks, President’s AI & Crypto Czar. The group consists of the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission, and other persons in a similar position. https://twitter.com/EleanorTerrett/status/1882525133321199684 Its main function is to create a policy roadmap for digital currencies and stablecoins. This is to fill current gaps in regulation and enhance American leadership in digital finance. For this reason, the Working Group will engage with outside experts who are not part of the federal government, and draw on knowledge from the developing digital assets market. Further, the group has been charged with assessing the feasibility of developing a national strategic digital currency reserve. Such federal departments and agencies will describe and suggest possible ways of creating and sustaining this stockpile. This initiative is intended to strengthen the US economy and support the nation’s market leadership in the field of cryptocurrency and digital finance. The emphasis on innovation is the sign that the administration strives to preserve the United States’ position as a leading nation in the digital financial sector. – Advertisement – Prohibition on Central Bank Digital Currencies The executive order states that no federal agency shall support or authorise the use of a CBDC or any other related digital currency. This decision marks a departure from earlier discussions under previous administrations, signaling the Trump administration’s focus on decentralized digital assets. The order also rescinds the former administration’s Digital Assets Executive Order and the…
Filed under: News - @ January 24, 2025 9:26 am