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 It also directs various federal bodies to provide recommendations on which digital asset regulations should be rescinded or modified.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

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

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.