Trump initiates cryptocurrency task force
The executive order indicates that the president aims to “promote US leadership in digital assets.” Read the full article at RT.com.
TroibNews 
**The president aims to “promote US leadership in digital assets”**
US President Donald Trump has signed an executive order aimed at exploring the potential creation of a national cryptocurrency stockpile, along with establishing a framework for digital asset policy, according to the White House.
Trump had previously expressed his intentions to position the US as the world’s “crypto capital” and to embrace the role of a “crypto president.”
The executive order, entitled “Strengthening American Leadership in Digital Financial Technology,” which he signed on Thursday, seeks to “promote United States leadership in digital assets and financial technology while protecting economic liberty.”
According to the document, “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 outlines Trump’s strategy “to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.”
The executive order has initiated a Working Group on Digital Asset Markets, which will be chaired by a Special Advisor for AI and Crypto. In December, Trump appointed venture capitalist David Sacks as his crypto and artificial intelligence ‘czar’ to steer relevant policies. The billionaire investor was present in the Oval Office for the signing of the order on Thursday.
This working group will function as an advisory council, as noted by Reuters. Its responsibilities are expected to include advising on digital asset policy, collaborating with Congress on crypto legislation, and examining the feasibility of a national cryptocurrency stockpile.
Although presidential advisory councils are common, this marks the first dedicated solely to cryptocurrencies, according to the agency.
The proposed digital asset stockpile could encompass cryptocurrencies that have been lawfully seized by federal law enforcement, as mentioned in the executive order.
In recent years, agencies like the Department of Justice have seized billions of dollars in cryptocurrencies associated with criminal activities such as cybercrime and drug trafficking. Historically, these seized assets were auctioned by the government, with the proceeds allocated to the Treasury.
“If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the US government currently holds or acquires in the future,” Trump stated in July at the Bitcoin Conference in Nashville, Tennessee.
The executive order also highlights the importance of bolstering the sovereignty of the US dollar by fostering the development of legitimate, dollar-backed stablecoins.
During his first administration, Trump was critical of cryptocurrencies; however, his viewpoint shifted during the last campaign, where he gained significant support from the industry, as observed by CNBC.
In contrast, the administration of former President Joe Biden adopted a more cautious approach to cryptocurrencies, frequently emphasizing the need for stricter regulations to combat fraud and money laundering. The Biden White House had backed regulatory measures, including increased oversight by the Securities and Exchange Commission.
Mark B Thomas for TROIB News
US President Donald Trump has signed an executive order aimed at exploring the potential creation of a national cryptocurrency stockpile, along with establishing a framework for digital asset policy, according to the White House.
Trump had previously expressed his intentions to position the US as the world’s “crypto capital” and to embrace the role of a “crypto president.”
The executive order, entitled “Strengthening American Leadership in Digital Financial Technology,” which he signed on Thursday, seeks to “promote United States leadership in digital assets and financial technology while protecting economic liberty.”
According to the document, “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 outlines Trump’s strategy “to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.”
The executive order has initiated a Working Group on Digital Asset Markets, which will be chaired by a Special Advisor for AI and Crypto. In December, Trump appointed venture capitalist David Sacks as his crypto and artificial intelligence ‘czar’ to steer relevant policies. The billionaire investor was present in the Oval Office for the signing of the order on Thursday.
This working group will function as an advisory council, as noted by Reuters. Its responsibilities are expected to include advising on digital asset policy, collaborating with Congress on crypto legislation, and examining the feasibility of a national cryptocurrency stockpile.
Although presidential advisory councils are common, this marks the first dedicated solely to cryptocurrencies, according to the agency.
The proposed digital asset stockpile could encompass cryptocurrencies that have been lawfully seized by federal law enforcement, as mentioned in the executive order.
In recent years, agencies like the Department of Justice have seized billions of dollars in cryptocurrencies associated with criminal activities such as cybercrime and drug trafficking. Historically, these seized assets were auctioned by the government, with the proceeds allocated to the Treasury.
“If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the US government currently holds or acquires in the future,” Trump stated in July at the Bitcoin Conference in Nashville, Tennessee.
The executive order also highlights the importance of bolstering the sovereignty of the US dollar by fostering the development of legitimate, dollar-backed stablecoins.
During his first administration, Trump was critical of cryptocurrencies; however, his viewpoint shifted during the last campaign, where he gained significant support from the industry, as observed by CNBC.
In contrast, the administration of former President Joe Biden adopted a more cautious approach to cryptocurrencies, frequently emphasizing the need for stricter regulations to combat fraud and money laundering. The Biden White House had backed regulatory measures, including increased oversight by the Securities and Exchange Commission.
Mark B Thomas for TROIB News
