Trump's Executive Order: A New Era for Cryptocurrency in the US

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by Giorgi Kostiuk

2 years ago

US President Donald Trump signed an executive order aimed at developing the cryptocurrency industry in the country. This step is a significant event for the entire crypto industry, which has long awaited changes.

Introduction of the New Order

President Trump signed an order declaring the US a crypto-friendly country. This step is aimed at fulfilling his promise to make the US the 'crypto capital of the planet'. The order was signed a few days after Trump's inauguration.

This order helps the US become a leader in the crypto industry.

Task Force Led by David Sacks

According to the order, a Presidential Working Group is being created to develop the crypto industry in the US. It will develop a new regulatory framework and evaluate the creation of a 'strategic national digital assets stockpile'. The group is led by David Sacks, along with the Secretary of Treasury, the Chairman of the SEC, and heads of other relevant departments.

Revocation of Previous Digital Asset Restrictions

The order revokes previous crypto frameworks introduced in 2022, which limited the industry's development. In addition, the document prohibits the issuance and promotion of Central Bank Digital Currencies (CBDCs). This decision plays a key role in strengthening the crypto industry in the US.

This order and subsequent actions are aimed at strengthening the US's position as a leader in cryptocurrency, which will influence the global market and boost the development of digital assets worldwide.

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