Trump signed relevant administrative orders on cryptocurrency, which will evaluate the creation of d
According to the White House press release, US President Trump signed an executive order related to cryptocurrency on Thursday, which aims to establish clear regulation of US digital financial technology and ensure the country's international leadership in the field of digital asset economy.
Establish the Presidential Working Group on the Digital Asset Market
The executive order directs the establishment of the Presidential Working Group on Digital Asset Markets, aimed at strengthening the United States' leadership position in the field of digital finance. The organization will be responsible for developing a federal regulatory framework for managing digital assets (including stablecoins) and evaluating the establishment of a national digital asset strategic reserve.
The working group will be chaired by White House AI&Crypto Czar David Sacks, and its members include the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission (SEC), and heads of other relevant departments and agencies. The group will also invite industry experts to participate to ensure that government actions receive professional knowledge support.
Prohibit the issuance of central bank digital currency
The executive order also instructs departments and agencies to review any regulations and other agency actions that should be revoked or modified that affect the digital asset industry, and to make recommendations to the Presidential Working Group. The order also fulfills the commitment made before the popular Sichuan election and prohibits all institutions from taking any action to establish, issue or promote the Central Bank's digital currency (CBDC).
In addition, the executive order will also revoke the previous administration's digital asset executive order and the Treasury Department's "Digital Asset International Participation Framework". The White House statement stated that these regulations inhibit innovation and undermine the United States' economic freedom and international leadership in digital finance.
Eliminate excessive regulation
According to the statement, the Trump government will stop the aggressive law enforcement actions and excessive regulation of the previous government, and commit to "ensuring the vigorous development of innovation, the clear regulatory framework, and the protection of economic freedom", so that the growth of digital financial technology in the United States will not be hindered by restrictive regulations or government intervention.
In an interview with Fox Business on Friday, White House AI and crypto czar David Sacks talked about the signing of administrative orders related to cryptocurrency. He said that this shows that Trump is fulfilling its campaign commitment to make the United States the "crypto capital" of the world.
Sacks It is pointed out that the executive order instructed his working group to develop a regulatory framework to encourage innovation and encryption technology in the United States, rather than driving the encryption industry to other countries like the Biden administration did. He stated that what the crypto or cryptocurrency industry needs most is regulatory clarity.
Sacks also stated in an interview that they have not yet decided whether to proceed with plans to reserve digital assets. He said, "We will evaluate this and have not made a decision yet. We need to study it
