Hot Moments! Donald Trump Signs Cryptocurrency Order, White House Issues Statement

The White House has announced a sweeping new initiative aimed at strengthening American leadership in digital financial technology by supporting innovation in blockchain and digital assets while preserving economic freedom. The executive order signed by the President outlines a robust framework to foster growth in the digital asset sector while addressing regulatory clarity, consumer protection, and risks associated with Central Bank Digital Currencies (CBDCs). The initiative sets out policies to promote responsible growth and innovation in digital assets, including: Protecting Blockchain Access: Ensuring that individuals and private sector organizations can legally access and use public blockchain networks, participate in mining, transact without censorship, and provide self-custody of digital assets. Dollar Sovereignty: Supporting the development of legitimate, dollar-backed stablecoins to support the global dominance of the US dollar. Fair Banking Access: Ensuring fair access to banking services for law-abiding individuals and businesses. Regulatory Clarity: Developing technology-neutral regulations and transparent frameworks to support innovation in digital assets, blockchains and distributed ledger technologies. Blocking CBDCs: Prohibiting the establishment, issuance, and use of Central Bank Digital Currencies, citing concerns about financial stability, individual privacy, and U.S. sovereignty. Related News: BREAKING: And It's Finally Here! US President Donald Trump Signs Order on Cryptocurrencies The order rescinds Executive Order 14067, issued in 2022, and the Treasury Department’s “International Engagement Framework for Digital Assets.” Both were intended to ensure responsible development of digital assets, but are now deemed inconsistent with the administration’s new policies. To advance the stated goals, the President has established a Working Group on Digital Asset Markets within the National Economic Council. Chaired by the newly appointed Special Advisor on Artificial Intelligence and Crypto, the group will be tasked with: Proposing a federal regulatory framework for digital assets, including stablecoins. Considering the creation of a national digital asset stock, potentially derived from legally seized cryptocurrencies. Identifying and recommending changes to existing regulations affecting the digital asset industry. The Working Group will consult with agencies such as the Treasury, the Justice Department and the Securities and Exchange Commission, and public hearings will be scheduled to hear from industry leaders. A key provision of the decree explicitly prohibits any government agency from developing or implementing Central Bank Digital Currencies. The use of the term Bitcoin stock instead of Bitcoin reserve in the published statement drew attention. The term stock, unlike the term reserve, may have been used to protect the existing asset and not require purchasing. *This is not investment advice. Continue Reading: Hot Moments! Donald Trump Signs Cryptocurrency Order, White House Issues Statement