President Donald Trump has established a working group on digital assets that will investigate the development of a federal regulatory framework for crypto and evaluate the creation of a national digital asset stockpile.
Editorial
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
In a digital financial technology executive order, Trump says: “The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership.
“It is therefore the policy of my Administration to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.”
To do this, Trump has set up a working group that will include the Secretary of the Treasury, Attorney General, and Secretary of Commerce. The group will, within 180 days, submit a report with regulatory and legislative proposals for the sector.
Among the specific areas to be looked into is the creation and maintenance of a national digital asset stockpile, possibly made up from cryptocurrency seized by the federal government.
Trump has also moved to stave off any potential digital dollar, prohibiting government agencies from undertaking any action to establish, issue, or promote CBDCs and to immediately end any ongoing work on the issue.
Meanwhile, the executive order seeks to ensure crypto firms get access to banking services, “protecting and promoting fair and open access to banking services for all law-abiding individual citizens and private-sector entities alike”.
Source link
#Trump #orders #evolution #national #crypto #stockpile #prohibits #CBDC #work
