#TrumpCryptoOrder

On January 23, 2025, President Donald Trump signed an executive order titled “Strengthening American Leadership in Digital Financial Technology,” which supports the growth of the digital asset industry in the U.S. This order establishes a cryptocurrency working group tasked with proposing new regulations on digital assets and exploring the creation of a national cryptocurrency reserve. The working group will be led by David Sacks, the administration's czar for artificial intelligence and cryptocurrencies, and will include the Secretary of the Treasury, the Attorney General, and the heads of the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The executive order directs the government to propose a regulatory framework for digital assets, including stablecoins, and to assess the potential creation and maintenance of a national digital asset reserve. It also protects banking services for cryptocurrency businesses and prohibits the creation of central bank digital currencies that could compete with existing cryptocurrencies.

In addition, the SEC has created a working group to develop a clear and comprehensive regulatory framework for crypto assets, aiming to provide legal clarity to what it describes as a “confusing” and “hostile to innovation” environment. This working group will help the SEC draw clear regulatory lines, provide realistic pathways for registration, design sensible disclosure frameworks, and deploy compliance resources judiciously.

These actions fulfill several of Trump’s campaign promises to promote the adoption of digital assets and position the United States as a leader in the cryptocurrency industry.