Trump's First Executive Order: The Future of Cryptocurrency in the US

user avatar

by Giorgi Kostiuk

2 years ago

On January 23, US President Donald Trump signed his first executive order concerning cryptocurrency. This decision could significantly affect crypto users and industry leaders.

Trump's First Executive Order and Its Significance

In a televised address from the Oval Office on January 23, Trump announced the signing of an order creating an "internal working group" to bolster the US as a global leader in cryptocurrency. This act overrides a March 2022 executive order from former President Joe Biden, which directed US government agencies to establish a regulatory framework for cryptocurrency.

David Sacks' Role in the New Initiative

David Sacks, acting as the 'AI and crypto czar', will lead the task force established by the order. During his statement, the president noted that Sacks is expected to "make a lot of money" from the order.

Implications for the Cryptocurrency Industry

The new order prohibits the 'establishment, issuance, circulation, and use' of a US central bank digital currency (CBDC), and suggests exploring the possibility of creating and maintaining a national crypto stockpile and a regulatory framework for stablecoins.

This order has the potential to significantly impact the development of the cryptocurrency industry in the US. Updates will be provided as the situation evolves.

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

HANetf and HSBC Launch First GBP EUR-Hedged Bitcoin Products

HANetf and HSBC have announced the launch of the first GBP EUR-hedged Bitcoin products, marking a significant development in the digital asset ecosystem.

user avatarLuis Flores

Goldman Sachs Integrates $100 Billion Treasury Fund with Crypto Institutional Frameworks

Goldman Sachs has announced the integration of its $100 billion Treasury Fund with crypto institutional frameworks, marking a significant development in the digital asset ecosystem.

user avatarArif Mukhtar

UK Financial Conduct Authority Opens Crypto Authorisation Regime

The UK Financial Conduct Authority has formally opened its Crypto Authorisation Regime, marking a significant development in the digital asset ecosystem.

user avatarMaria Gutierrez

Amazon Stock Price Predictions for 2027

Major firms predict Amazon stock will reach $350 per share by 2027, driven by AWS growth and AI advancements.

user avatarDavid Robinson

Tether Partners with Shiga to Launch Financial Products in Africa and Gulf

Tether is transitioning its Wallet Development Kit into financial products for users and institutions in Africa and the Gulf, collaborating with Shiga.

user avatarJacob Williams

Soneium and DayOneDream Join Forces to Tokenize Kpop Revenue Streams

Soneium partners with DayOneDream to tokenize Kpop revenue streams using blockchain technology.

user avatarAndrew Smith

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.