Trump's Executive Order on Cryptocurrencies: A New Regulatory Direction

user avatar

by Giorgi Kostiuk

2 years ago

Donald Trump has signed an order aiming to clarify the regulations in the cryptocurrency sector to secure American leadership in the digital economy.

Formation of the Digital Asset Working Group

The order establishes the Presidential Working Group on Digital Asset Markets to develop a federal regulatory framework for digital assets. This includes assessing the potential creation of a national digital asset stockpile. The group will be chaired by the White House's AI and crypto advisor, with participation from key figures such as the Treasury Secretary and the SEC Chairman.

Ban on CBDC Development

The executive order bans federal agencies from developing, issuing, or supporting central bank digital currencies (CBDCs). It also directs various federal bodies to provide recommendations on which digital asset regulations should be rescinded or modified.

Changes in SEC Leadership

With Gary Gensler stepping down as SEC Chairman, Trump appointed SEC Commissioner Mark Uyeda as acting chairman. Uyeda has formed a crypto task force led by GOP Commissioner Hester Peirce, known as ‘Crypto Mom.’ The task force's goal is to facilitate dialogue with industry participants and to create a more crypto-friendly regulatory environment.

Trump's order may become a turning point in the development of cryptocurrency regulations in the US, signaling a new strategy in the digital economy.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

MediaMarkt Saturn Ceases Sales of Ledger Devices Amid Security Concerns

MediaMarkt Saturn has stopped selling Ledger devices due to security concerns following a customer report of a hidden implant.

user avatarRajesh Kumar

Binance Expands into Traditional Finance as Mining Pool Closes

As Binance prepares to shut down its mining pool, the exchange is expanding into traditional finance by providing access to over 7,000 US stocks and ETFs for customers outside the United States.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.