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Trump Signs Executive Order To Develop Crypto Regulations And A National Stockpile
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Posted on Jan 24, 2025
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Fact-Checked by Justyn Newman Lead Cybersecurity Editor
President Donald Trump signed an executive order on Thursday to regulate digital assets, creating a working group to develop a crypto framework, explore a national digital asset stockpile, and implement measures to foster the growth of the cryptocurrency industry in the United States.
In a Rush? Here are the Quick Facts!
- The new executive order signed by President Donald Trump includes multiple measures to ensure the growth of the cryptocurrency industry in the United States.
- Trump requested the creation of a Working Group to develop a digital assets regulatory framework.
- The order suggests the creation and maintenance of a national digital asset stockpile using cryptocurrencies taken by the U.S. government during law enforcement duties.
In its recent executive order, Strengthening American Leadership in Digital Financial Technology, Trump ordered the creation of a working group on digital assets, named the “Working Group”, including multiple roles, to come up with regulations, guidelines, and suggestions to create a federal regulatory framework.
WATCH: Donald Trump ordered the creation of a cryptocurrency working group tasked with proposing new digital asset regulations and exploring the creation of a national cryptocurrency stockpile, making good on his promise to overhaul US crypto policy https://t.co/jTK0ttyQHE pic.twitter.com/V7cLY4SpyS
— Reuters Tech News (@ReutersTech) January 24, 2025
The Working group—led by David Sacks, a venture capitalist who recently joined the White House administration as AI and Crypto czar—is also expected to consider the “creation and maintenance of a national digital asset stockpile,” suggesting rules, maintenance, and use of the government’s cryptocurrencies taken during law enforcement actions. According to Axios, the U.S. government currently holds around $21 billion in crypto assets.
The order required protection for banking services, prioritized U.S. dollar-backed stablecoins, and banned any Central Bank Digital Currencies (CBDCs) projects in the country. Users
The new measures show a significant twist in Trump’s posture towards cryptocurrency, as he was against the development of the crypto market in the U.S. during his previous period. Since he won the elections, Bitcoin surpassed the 100,000 milestone last month, after Trump named Paul Atkins, an advocate for cryptocurrency adoption, as head of the Securities and Exchange Commission (SEC).
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