📝 Trump signs executive order, making strides towards establishing a national digital asset reserve!
According to Fox News reporter Eleanor Terret's tweet on X, Trump signed an executive order on Thursday to review the establishment of a "national digital asset reserve." This order also established a "Presidential Working Group" dedicated to assessing the establishment of a strategic national digital asset reserve, as well as creating a federal regulatory framework for digital assets and stablecoins. White House crypto expert David Sacks will serve as the chair of this group, which includes heads from key agencies like the U.S. Securities and Exchange Commission and the Treasury Department.
This working group also has a special task of prohibiting federal agencies from taking action to establish, issue, or promote central bank digital currency (CBDC). This could be a clear statement from Trump regarding the future of cryptocurrencies. Additionally, this order rescinds the cryptocurrency executive order issued by the Biden administration in 2022, which feels like it is paving the way for the cryptocurrency industry.
Trump had previously promised to establish a "national strategic Bitcoin reserve," and it now seems that his plans may have expanded to other digital assets.
Moreover, U.S. Republican Senator Cynthia Lummis is also pushing for legislation to formally establish a Bitcoin reserve and to allow the U.S. government to sell a portion of its gold reserves to purchase 1 million Bitcoins. If this really happens, it would be a significant milestone for the cryptocurrency industry!
Another noteworthy point for investors is that Trump himself has shown openness to other currencies, having launched his own official meme coin on the Solana blockchain last week. This raises curiosity about what big moves he might make next!
How much impact will Trump's executive order have on the cryptocurrency market? Will a Bitcoin reserve really become a reality? Share your thoughts in the comments section!
