#TrumpCryptoOrder
Donald Trump has signed an executive order aimed at promoting U.S. leadership in digital assets and establishing a working group to propose regulations for the crypto industry. This move is seen as a fulfillment of his campaign promise to be a "crypto president".¹
The executive order outlines several key initiatives, including:
- *Establishing a Working Group*: A working group on digital asset markets will be chaired by the Special Advisor for AI and Crypto. This group will evaluate the potential creation of a digital asset stockpile and recommend regulatory and legislative proposals for the digital asset industry.
- *Promoting U.S. Leadership*: The order aims to promote U.S. leadership in digital assets and financial technology, while supporting the responsible growth and use of digital assets, blockchain technology, and related technologies.
- *Protecting Fair Access to Banking Services*: The order aims to protect and promote fair and open access to banking services for all law-abiding individuals and private entities.
- *Prohibiting Central Bank Digital Currencies (CBDCs)*: The order explicitly prohibits federal agencies from promoting or implementing CBDCs, reversing the policy direction of the Biden administration.²
The crypto industry has reacted positively to the news, with Bitcoin and Ethereum prices surging following the announcement. However, some experts have expressed concerns that the executive order may not lead to regulations that effectively protect investors.
