#TrumpCryptoOrder

According to CoinDesk, the President of the United States, Donald Trump, has issued an executive order aimed at fostering a conducive environment for the cryptocurrency industry in the United States. This directive, announced on Thursday, seeks to establish policies that provide a solid foundation for digital assets within the country. The order also explores the possibility of creating a "digital asset reserve".

The executive order marks a significant shift in federal policy towards cryptocurrencies, potentially allowing the sector to advance within a more favorable framework established by the White House. While such orders are often the starting point rather than the conclusion of policy development, this measure from the pro-cryptocurrency president is considered a crucial first step. Following the announcement, Bitcoin experienced a brief surge, rising above $106,000 from around $103,000, before settling back at $103,500, reflecting a decrease of 0.51% in the last 24 hours.

The order includes provisions to protect individuals involved in the crypto space from legal repercussions, as long as their activities are legal. It establishes a working group led by Trump's cryptocurrency and AI advisor, venture capitalist David Sacks, and includes several cabinet officials, as well as the heads of the Securities and Exchange Commission and the Commodity Futures Trading Commission. Although the order does not immediately create a strategic reserve of bitcoin, it instructs the working group to assess the feasibility of establishing a national stock of digital assets.

Additionally, the order prohibits any work on a central bank digital currency (CBDC) during the Trump administration. It explicitly prohibits agencies under his authority from taking any action to establish, issue, or promote CBDCs within the United States or internationally. This decision comes after a period of uncertainty.