President Donald Trump signed an executive order titled 'Strengthening American Leadership in Digital Financial Technology,' which acknowledges the importance of the digital asset industry in innovation and economic development. The order outlines a policy to support the growth of digital assets and blockchain technology. It establishes a working group to advise on digital asset policies and submit a report with regulatory and legislative recommendations within six months. The order also tasks the group with evaluating the potential creation of a national digital asset stockpile from lawfully seized cryptocurrencies. Despite the significance of the order, the market reaction was muted.

President Donald Trump signed the long-awaited executive order on crypto on Thursday — and the market shrugged. The order, under the grand title Strengthening American Leadership in Digital Financial Technology, affirmed the “crucial role” played by the digital asset industry in fostering innovation and economic development in the US. And it established that an explicit policy of the Trump White House would be to “support the responsible growth of use of digital assets, blockchain technology, and related technologies across all sectors of the economy.” The executive action creates a working group that will advise the White House on digital asset policies; that group is tasked with submitting a report to the president within six months, with recommendations for a regulatory framework and legislative proposals.Without ever mentioning Bitcoin explicitly, the order also charged that working group with evaluating the “potential creation and maintenance of a national digital asset stockpile,” which might be “derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.”

Trump's Executive Order on Crypto Receives Tepid Market Reaction