Trump’s Executive Order Aims to Boost U.S. Crypto Industry
- President Trump issued an executive order to establish favorable policies for the crypto industry.
- The order creates a working group led by David Sacks, involving key officials from the SEC and CFTC.
- A directive was given to evaluate a national digital asset stockpile but not to create a central bank digital currency (CBDC).
- The order revokes former President Biden’s 2022 crypto-related executive order.
- Bitcoin briefly surged above $106,000 following the announcement before stabilizing at $103,500.
The executive order by President Trump seeks to provide a supportive framework for the U.S. crypto sector, including evaluating a potential national digital asset stockpile while banning CBDC development under his administration. Bitcoin saw a temporary price increase in response to the news.
Source (2.6)https://www.coindesk.com/policy/2025/01/23/trump-issues-crypto-executive-order-to-pave-u-s-digital-assets-path-reports?rand=52298
