US President Donald Trump has signed an executive order with a focus on developing a national digital asset stockpile. The executive order also created a crypto Working Group that will be responsible for developing this stockpile.
Donald Trump Signs Executive Order To Create Digital Asset Stockpile
In an X post, FOX journalist Eleanor Terrett revealed that US President Donald Trump has signed an executive order to develop a national digital asset stockpile.
The executive order establishes the Presidential Working Group on Digital Asset Markets to strengthen US leadership in digital finance. This group will be responsible for evaluating the creation of this strategic national digital assets stockpile. They will also be responsible for developing a Federal regulatory framework that will govern digital assets, including stablecoin.
This development comes just a few hours after the US president reaffirmed his commitment to make the country the world capital of crypto and AI.
According to Terrett, the White House AI and Crypto Czar David Sacks will chair the Working Group. The group will include the Treasury Secretary, the Chairman of the Securities and Exchange Commission, and the heads of other relevant departments and agencies. Sacks will engage stakeholders in the crypto industry to ensure that the Working group is guided by the expertise of those in the industry.
Furthermore, the executive order prohibits agencies from working towards establishing and issuing central bank digital currencies (CBDCs).
The FOX journalist also revealed that the order revokes the previous administration’s Digital Assets Executive Order and the Treasury Department’s Framework for International Engagement on Digital Assets.
The post Breaking: Donald Trump Signs Executive Order To Create National Digital Asset Stockpile appeared first on CoinGape.
