President Trump just signed an executive order recognizing the creation of the National Strategic Reserve of Bitcoin and cryptocurrencies and blocking the development of central bank digital currencies (CBDCs) while promoting the adoption of stablecoins.
The order, titled “Strengthening U.S. Leadership in Digital Financial Technology,” states that the government supports the “responsible growth” and use of digital assets and blockchain technology.
The order rescinds President Biden's previous directives on digital assets and creates a new task force to coordinate and propose a uniform regulatory approach to digital assets within 180 days.
“The task force shall assess the potential for a national digital asset stockpile and recommend standards for establishing such a stockpile. Such stockpiles shall be legally secured by the federal government through law enforcement efforts. It may have come from virtual currency that was seized.
The executive order also requires all federal agencies to cease any actions related to the development of government-sponsored digital versions of the dollar, and describes how the U.S. We are analyzing how fixed stablecoins can foster development and growth. private sector.
Meanwhile, the Treasury Department, Department of Justice, Securities and Exchange Commission and other relevant agencies have 30 days to identify and submit any regulations, guidance documents, orders, or other items affecting the digital asset sector. has been given a reprieve.
Additionally, amid accusations that legitimate crypto companies were denied banking services under the previous administration, U.S. banks will continue to provide fair and equal access to banking services to all law-abiding individuals and private entities. Directed to provide open access.
You can check the full text of the presidential order here.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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