President Donald Trump has signed a groundbreaking executive order creating a cryptocurrency working group to draft comprehensive digital asset regulations and explore a national cryptocurrency stockpile. The directive signals a dramatic shift from previous administration policies, positioning the U.S. for potential mainstream crypto adoption.
The order mandates protection of banking services for crypto companies and explicitly prohibits creating central bank digital currencies that could compete with existing cryptocurrencies. This move directly addresses long-standing industry concerns about regulatory barriers.
Key provisions include establishing a high-level working group comprising Treasury officials, SEC and CFTC chairs, and other agency heads. Their mandate involves developing a regulatory framework for digital assets and stablecoins.
The order also introduces an innovative concept of a national digital asset stockpile, potentially compiled from cryptocurrencies confiscated during federal law enforcement operations. Legal experts are currently deliberating the potential mechanisms for implementation, including whether congressional approval might be required to formalize such a reserve.
The cryptocurrency industry responded enthusiastically. Nathan McCauley, CEO of Anchorage Digital, described the order as a “sea change in US digital asset policy,” praising the administration’s comprehensive approach.
Market reactions were immediate, with Bitcoin reaching a record $109,071 earlier in the week, reflecting investor optimism about the new administration’s crypto-friendly stance.
Senator Tim Scott, chair of the Senate Banking Committee, lauded the initiative as fulfilling Trump’s campaign promise to maintain U.S. leadership in digital asset innovation.
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