Trump's Crypto Executive Order Creates Policy Working Group
President Donald Trump signed an executive order promoting digital assets and other financial technologies Thursday.
The order included components of the cryptocurrency-related campaign promises Trump had made before his election. It established a working group intended to shape regulation and White House policy around crypto and other digital assets. Special Advisor for AI and Crypto David Sacks will chair the group, according to the order, with the Treasury Secretary, Secretary of Homeland Security, and others participating.
In addition to reviewing current crypto regulatory frameworks and establishing new guidelines, the group is also tasked with evaluating the «potential creation and maintenance of a national digital asset stockpile.» The stockpile proposal echoes Trump's calls for a bitcoin stockpile on the campaign trail.
While the order included a section regarding the promotion and protection of dollar-backed stablecoins around the world, it also prohibited the establishment of a central bank digital currency in the United States.
Bitcoin traded around $103,000 in the hours following the release of the order, down slightly from levels seen earlier in the day.
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