A presidential working group will consider a cryptographic reserve and write a broader regulatory framework for digital assets.
The president of the United States, Donald Trump, signed an executive order in January 23 That supports the digital asset industry and includes steps towards a strategic encryption reserve.
The Order establishes a working group led by eleven US government officials plus the special White House advisor for AI and Crypto or “Crypto Tsar”. That role is in the hands of David Sacks, a businessman and risk capitalist.
The working group will examine the potential creation of a digital asset reserve. The previous efforts of Republican legislators were specifically objective of the storage of Bitcoin (BTC). The last executive order does not mention a specific cryptography. However, the order establishes that the reservation could be extracted from the previous cryptographic seizures of the US government, an amount that probably consists mainly of Bitcoin.
If creating that reservation is only part of a broader report that the working group will submit to President Trump within 180 days after order.
The report will also propose a broader regulatory framework with respect to the issuance and operation of digital assets, which cover problems such as market structure, supervision, consumer protection and risk management.
The new executive order also establishes the broader policy position of Trump, including its promise to make the United States the “cryptographic capital of the planet” while it stops aggressive application actions and regulatory extralimitation.
The policy explicitly aims to ensure that individual cryptography users and cryptographic companies can continue using blockchain networks, even through transactions, cryptographic self -system, cryptographic mining and software development.
In addition, it aims to protect the stable of US dollar support while except for the creation of a digital currency (or CBDC) controlled by the government (or CBDC).
In addition, the policy aims to ensure that banking services are available for individuals and companies. Reuters He suggested that This promise may be linked to accusations that US regulators ordered direct lenders to block the service to cryptographic companies. The regulators denied those claims in the relevant legal case.
Trump’s last order also revokes the 2022 executive order of the Biden Administration on cryptography and a US Treasury framework. UU. Related. Although the Biden order claimed to follow a responsible development around digital assets, the last announcement of the Trump administration He affirmed that “He suppressed innovation and undermined the economic freedom of the United States and global leadership in digital finances.”
Individual government agencies are also changing their cryptography policy. Days ago, the United States Stock Exchange and Securities Commission (SEC) announced a working group to reduce strict application and start offering cryptographic companies a clear path to registration. The SEC Commissioner, Hester Peirce, will direct the SEC’s own workforce, while the president of the SEC will have a role in the presidential cryptographic working group.
Discharge of responsibility: The information contained in this document is provided without considering its personal circumstances, therefore, it should not be interpreted as financial advice, investment recommendation or an offer or application for any transaction in cryptocurrencies.
