On January 23, U.S. President Donald Trump signed an executive order establishing a working group to research and design a 'National Digital Asset Reserve.' The working group's task is to find ways for the U.S. to take a leadership role in the cryptocurrency industry while 'assessing the creation of a strategic national digital asset reserve.' Trump's cryptocurrency executive order: proposing a federal regulatory framework, assessing the establishment of a national reserve. President Trump signed an executive order to strengthen the U.S. leadership in the field of digital financial technology. This includes: protecting and promoting citizens' and private sector entities' ability to access and use open public blockchain networks for legitimate purposes without persecution, including the ability to develop and deploy software, participate in mining and validation, transact with others without illegal censorship, and maintain self-custody of digital assets; promoting and protecting the sovereignty of the dollar, including taking action to promote the development and growth of globally legitimate and lawful dollar-backed stablecoins; the working group should propose a federal regulatory framework to govern the issuance and operation of digital assets in the U.S. (including stablecoins). The working group's report should consider regulations on market structure, oversight, consumer protection, and risk management; the working group should assess the feasibility of establishing and maintaining a national digital asset reserve and propose standards for establishing such reserves, which may come from cryptocurrencies that the federal government has lawfully seized through enforcement actions. On January 23, 2025, President Trump issued the first cryptocurrency executive order. The top 10 points are as follows: 1. Protect and promote citizens' and private sector entities' ability to access and use public chains; 2. U.S. citizens can develop and deploy software, participate in mining and validation, transact, and self-custody digital assets; 3. Promote and protect the sovereignty of the dollar, and support the development and growth of dollar-backed stablecoins; 4. Protect and promote fair and open access to banking services for all law-abiding citizens and private sector entities; 5. Provide regulatory clarity and certainty; 6. Protect Americans from the risks of CBDCs, prohibiting the establishment, issuance, circulation, and use of CBDCs within the jurisdiction of the U.S.; 7. Revoke Executive Order 14067 'Ensuring Responsible Development of Digital Assets' and the Treasury's 'Framework for International Engagement on Digital Assets'; 8. Establish the Presidential Digital Asset Market Working Group; 9. Propose a federal regulatory framework to govern the issuance and operation of U.S. digital assets (including stablecoins); 10. Assess the feasibility of establishing and maintaining a national digital asset reserve and propose standards for establishing such reserves. In his speech at the World Economic Forum in Davos on January 23, President Donald Trump stated that the U.S. will become the world capital of cryptocurrency and artificial intelligence. Trump indicated that his administration will comprehensively reduce the costs of 'almost all goods and services,' which will also make the U.S. a manufacturing superpower—directly driving the development of these two industries. This marked Trump's first remarks on the cryptocurrency industry since taking office, aside from briefly mentioning his meme coin, the official Trump (TRUMP) token. This launch prompted the submission of spot exchange-traded funds (ETFs) linked to meme coins, including funds tied to the Trump token.
