On January 23, U.S. President Donald Trump signed an executive order promoting cryptocurrencies, aiming to develop a national digital asset reserve.

The order emphasizes that “the digital asset industry plays a vital role in innovation and economic growth in the U.S., as well as maintaining our country’s international leadership.”

A significant portion of the order focuses on establishing technology and regulations surrounding cryptocurrencies, as well as fostering development within the U.S. One key aspect is the formation of a task force to explore creating a national digital asset reserve, potentially sourced from lawfully seized cryptocurrencies through enforcement efforts.

U.S. law enforcement agencies frequently auction off confiscated Bitcoin and other cryptocurrencies. During his campaign, Trump promised that if he returned to the White House, he would ensure the federal government would never sell off its Bitcoin holdings.

The order also outlines several priorities for the digital asset industry, including protections for individuals and private companies using blockchain networks against “oppression.” It specifies certain safeguards for developers and cryptocurrency “miners.”