Outside Source
The working group established under the EO will explore federal regulations for stablecoins and a national digital asset stockpile.
Breaking news
US President Donald Trump has signed his first executive order potentially affecting crypto users and industry leaders, which many expected during his first days in office.
In a televised address from the Oval Office on Jan. 23, Trump appeared with his ‘AI and crypto czar’ David Sacks, who explained the executive order to the US President. According to Sacks, the EO established an “internal working group to make America the world capital in crypto,” with himself chairing the effort.
Donald Trump signing crypto EO on Jan. 23. Source: ABC News
The US President said Sacks was going to “make a lot of money” from the executive orders on AI and crypto. According to the text of the crypto order, Trump’s directive revoked a March 2022 EO from former President Joe Biden directing US government agencies to establish a crypto regulatory framework.
The order prohibited “the establishment, issuance, circulation, and use” of a US central bank digital currency (CBDC) and asked the working group to study the potential creation and maintenance of a national crypto stockpile and a regulatory framework for stablecoins.
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
