Trump Signs Executive Order to Make U.S. A Global Crypto Hub
- President Trump signs executive order to boost U.S. leadership in cryptocurrency.
- Prohibits CBDC development, supports dollar-backed stablecoins for global dominance.
- A Presidential Working Group will review crypto regulations and propose new frameworks.
President Donald Trump has taken decisive action to position the United States as a global leader in cryptocurrency through an executive order titled “Strengthening American Leadership in Digital Financial Technology.” The order, signed following his return to office, fulfills his campaign promise to make America the crypto capital.
The main part of the executive order is the establishment of the Presidential Working Group on Digital Asset Markets. It will be chaired by newly appointed White House AI & Crypto Czar David Sacks. The working group, integrated within the National Economic Council, brings together key government stakeholders, including the Treasury Secretary, SEC Chairman, and other agency heads, to develop a federal regulatory framework for digital assets.
The executive order directly addresses industry concerns about regulatory overreach, particularly the controversial “Operation Chokepoint 2.0” implemented during the previous administration. This initiative allegedly attempted to restrict banking services for cryptocurrency businesses and limit banks’ ability to offer crypto-related services.
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The order also prohibits federal agencies from developing or promoting central bank digital currencies (CBDCs). Instead, it stresses support for dollar-backed stablecoins as a means of maintaining U.S. dollar sovereignty in the global digital economy. The order also revokes the previous administration’s Digital Assets Executive Order and the Treasury Department’s Framework for International Engagement on Digital Assets.
The working group has been tasked with several time-sensitive objectives. Within 30 days, relevant agencies must identify all regulations, guidance documents, and orders affecting the digital asset sector. Agency heads then have 60 days to submit recommendations for modifying these items. The group will present a report within 180 days, outlining regulatory and legislative proposals to advance the order’s policies.
A particularly interesting aspect of the order is the potential creation of a national digital asset stockpile. This concept moved from earlier discussions about a strategic Bitcoin Reserve, as proposed in Senator Cynthia Lummis’s BITCOIN Act. The current vision suggests using cryptocurrencies legally seized through U.S. law enforcement efforts, with a possible focus on digital assets developed within the United States.
The post Trump Signs Executive Order to Make U.S. A Global Crypto Hub appeared first on Cryptotale.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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