Quick Take: Trump Forms Group to Explore US Crypto Reserve, Bans CBDCs

President Donald Trump signed an executive order establishing the Presidential Working Group on Digital Asset Markets, tasking it with evaluating the creation of a โstrategic national digital assets stockpileโ and developing a comprehensive federal regulatory framework for digital assets.
Aย Quick Takeย delivers key facts fastโconcise, clear, and easy to read. Perfect for busy readers.
Key Details
- The group will be chaired by Trump-appointed crypto czar David Sacks and include top officials like the Treasury Secretary, Attorney General, and SEC Chair.
- The proposed reserve could utilize cryptocurrencies lawfully seized by the federal government, with additional deliberation on acquiring more assets over time.
- The executive order calls for the responsible growth of digital assets, ensuring individuals can use public blockchain networks for lawful purposes without persecution, and safeguarding self-custody rights.
Issues to Address
The working group will also address key issues like stablecoin regulation and open banking access, reflecting crypto firmsโ longstanding complaints about “debanking.”
- The Trump administration emphasized the importance of digital assets in innovation, economic development, and U.S. international leadership.
Trump Bans CBDCs
- Trumpโs order bans the use of a central bank digital currency (CBDC) in the U.S., fulfilling yet another election promise.
Speculations
- Speculation persists on whether the strategic stockpile would focus solely on bitcoin, as previous rumors suggested, or include U.S.-founded tokens like SOL, XRP, and USDC in an “America-first” reserve. (Read more: Quick Take: Solana, XRP Surge Amid Rumors of U.S. Crypto Reserve)
Crypto Moves Under Trump:
This development follows other pro-crypto measures, including:
- $TRUMP and $MELANIA Memecoin Launches: These controversial tokens on Solana spurred billions in trading volume, contributing to SOL’s price surge. (Read more: Quick Take: Melania Trumpโs Meme Coin Derails $TRUMP Token Rally, Fake Barron Coin Launched)
- Ross Ulbricht Pardon: Trump commuted the life sentence of Silk Road founder Ross Ulbricht, further solidifying his alignment with the crypto community. (Read more: Quick Take: Trump Pardons Silk Road Founder Ross Ulbricht)
- Bitcoin Mining Prioritization: Trump promised to position the U.S. as a bitcoin mining powerhouse while repealing restrictive policies like SAB 121.
This article is published on BitPinas: Quick Take: Trump Forms Group to Explore US Crypto Reserve, Bans CBDCs
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