U.S. President Donald Trump has issued an order aimed at reshaping the crypto industry. It introduces measures to foster innovation and financial freedom.
CBDC Ban and President's New Working Group
According to Politico, the order bans the creation and use of central bank digital currencies, promoting decentralization and safeguarding citizens' financial autonomy. To ensure a robust regulatory framework, the President's Working Group on Digital Assets is established to develop comprehensive federal rules for this market.
Blockchain and Stablecoins Development
The executive order protects rights to use and develop on open public blockchains, encouraging technological progress and innovation within decentralized ecosystems. The notice supports legitimate, dollar-backed stablecoins, aiming to strengthen the U.S. dollar's authority and economic stability in global financial markets.
Fair Banking Access and Policy Updates
The order mandates fair access to banking services for law-abiding citizens and companies dealing with digital assets, eliminating discrimination within financial institutions. It revokes Executive Order 14067 and the 2022 Treasury framework, requiring reviewing, rescinding, or updating existing rules impacting digital asset markets to streamline and modernize regulations.
The new order highlights the importance of responsible growth and use of digital assets and blockchain technology. It calls for innovation aligned with economic and national interests.
