The U.S. strengthens its stance on digital innovation and national cryptocurrency policies.
Trump Executive Order Promotes Crypto Innovation
President Donald Trump has signed an executive order promoting the advancement of cryptocurrencies in the United States. The order underscores the importance of digital assets in driving innovation and strengthening economic development. It also aims to establish a national digital asset stockpile.
National Digital Asset Stockpile in Focus
A key provision of the order directs a working group to explore the creation of a national digital asset stockpile. This could include cryptocurrencies seized by the federal government through enforcement actions. Previously, the government auctioned such assets.
Pledge to Retain Bitcoin Holdings
Trump’s campaign promise to retain all federal Bitcoin holdings remains a focal point of his administration’s crypto policy. While the order does not mention Bitcoin specifically, it aligns with his commitment to safeguard government-held assets.
Regulatory Reforms and Leadership Appointments
Trump has made strategic appointments to foster a crypto-friendly regulatory environment. Paul Atkins, known for market-friendly policies, has been nominated to chair the SEC. Hester Peirce, a strong crypto advocate, will lead a new crypto task force.
Protecting Blockchain Users
The executive order includes protections for blockchain developers and miners, ensuring they can operate freely within the U.S. It also defends the rights of individuals to self-custody their digital assets without relying on centralized platforms.
Supporting Dollar-Backed Stablecoins
The order emphasizes promoting the global growth of dollar-backed stablecoins. This move aims to bolster the sovereignty of the U.S. dollar in the digital age.
A Turning Point for the Crypto Industry
Industry leaders celebrated the executive order as a major step toward U.S. leadership in digital innovation. David Sacks, Trump’s crypto czar, declared at a recent event, “The war on crypto is over.”
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