**Breaking News: Trump Signs Executive Order on Cryptocurrency**
In a landmark move, President Donald Trump has signed an executive order aimed at promoting the development and growth of lawful and legitimate dollar-backed stablecoins worldwide. This order is part of a broader strategy to establish a supportive regulatory framework for digital assets in the U.S.
Key highlights of the executive order include:
- **Promotion of Stablecoins:** The order emphasizes the importance of dollar-backed stablecoins and aims to foster their growth and development globally.
- **Ban on Central Bank Digital Currencies (CBDCs):** The order prohibits the creation and issuance of CBDCs in the U.S., citing concerns over privacy, sovereignty, and financial stability.
- **Creation of a Working Group:** A presidential working group has been established to develop a federal regulatory framework for digital assets, including stablecoins. This group will address market structure, oversight, consumer protection, and risk management.
- **National Digital Asset Stockpile:** The order explores the possibility of creating a national digital asset stockpile, potentially sourced from cryptocurrencies seized by law enforcement.
The executive order has been met with approval from the crypto industry, which has long awaited clearer regulations. Bitcoin and other major cryptocurrencies have seen a surge in value following the announcement, reflecting the market's positive response.
Stay tuned for more updates on this developing story!