Donald Trump has officially signed an executive order to support the growth and use of digital assets, blockchain technology, and related technologies across all sectors of the American economy.
🚨NEW per my @FoxBusiness colleague @EdwardLawrence: The #crypto executive order has officially been signed.
Here are the details:
📌The Executive Order establishes the Presidential Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance.
📌The…
— Eleanor Terrett (@EleanorTerrett) January 23, 2025
Remarkably, the Executive Order creates a Presidential Working Group on Digital Asset Markets designed to ensure the smooth running and clarity of regulations concerning the digital asset sector. Within six months, the group will submit a report to the president suggesting a regulatory framework to govern cryptocurrencies, including stablecoins, and evaluating the creation of a strategic national digital asset reserve.
Presidential Crypto Working Group
President Trump noted that the newly established working group’s mission is “to promote United States leadership in digital assets and financial technology while protecting economic liberty.”
According to an official release from the White House, the Working Group will be led by David Sacks, the White House AI and Crypto Czar. Other officials, such as Mark Uyeda, the chairman of the Securities and Exchange Commission (SEC), and other crypto-related department heads, will also participate.
To ensure well-informed suggestions and decision-making, the Working Group chairman will regularly consult crypto experts to acquire adequate knowledge of the probable outcome of every step the federation takes toward crypto adoption.
The Executive Order allows U.S. departments and agencies to identify and recommend potential regulatory fixes or modifications for the digital asset sector. However, it prohibits agencies from establishing, issuing, or promoting central bank digital currencies (CBDCs).
Trump Drives Pro-Crypto Shift
Following his inauguration on Monday, Trump reiterated his plan to make America the world’s crypto capital. His latest executive order proves that he’s working to fulfill this promise soon.
Meanwhile, he launched his memecoin, which ranks among the top 25 cryptocurrencies with a $6.7 million market cap. He has also heeded the crypto community’s request to release Silk Road founder Ross Ulbricht.
