Trump Signs Cryptocurrency Executive Order: Assessing the Creation of a National Digital Asset Reserve

According to BlockBeats, on January 24, Trump signed an executive order to establish the Presidential Digital Asset Market Working Group. The group's task is to develop a federal regulatory framework for managing digital assets, including stablecoins, and to assess the creation of strategic national digital asset reserves. The working group will be chaired by David Sacks, the White House 'AI and Cryptocurrency Czar,' and will include the Secretary of the Treasury, the SEC Chair, and other heads of relevant departments and agencies. The executive order directs various departments to propose suggestions to the working group regarding any regulations and other agency actions affecting the digital asset sector that should be revoked or amended.

Additionally, the executive order prohibits agencies from taking any action to establish, issue, or promote Central Bank Digital Currencies (CBDCs). The order also rescinds the previous administration's "Digital Asset Executive Order" and the Treasury's "Framework for International Engagement on Digital Assets," stating that these two executive orders stifled innovation and undermined economic freedom in the U.S. as well as its global leadership in the digital finance sector.