News alertđđ¨trump banned some countriesđ¨
President Donald Trump has signed an executive order related to cryptocurrency, focusing on Bitcoin and digital assets. Here's what's happening š:
# Key Points of the Executive Order
- *Ban on Central Bank Digital Currency (CBDC)*: The order prohibits the creation and issuance of a CBDC in the United States, defining it as a digital form of money or monetary value that's a direct liability of the central bank.
- *Strategic Bitcoin Stockpile*: The order assigns a working group to assess the creation of a strategic bitcoin stockpile, potentially using cryptocurrencies seized by the federal government through law enforcement efforts. The US government currently holds around 198,109 bitcoin worth over $20.1 billion.
- *Regulatory Framework*: The order establishes a presidential working group to create a federal regulatory framework governing digital assets, including stablecoins, and evaluate market structure, oversight, consumer protection, and risk management.
# Implications
- *Bitcoin Reserve*: The proposed stockpile is expected to include or be fully in bitcoin, with Senator Cynthia Lummis presenting legislation to create a Strategic Bitcoin Reserve by purchasing 1 million BTC over 5 years.
- *CBDC Prohibition*: The ban on CBDCs aims to prevent the development of a central bank-issued digital currency in the US, while boosting stablecoin adoption.
- *Trade Impact*: Trump's policies, including tariffs, have sparked trade wars with countries like Canada and Mexico, which may have implications for the crypto market ².#TradingCommunity #TrendingTopic
