Watcher – US President Donald Trump has signed an executive order to establish a digital asset stockpile, according to a White House release. Indeed, the “crypto president” is delivering on his promise to Americans and crypto fans to prioritize the industry.
Furthermore, the digital asset stockpile order directs departments and agencies to identify and make recommendations to the Working Group on any regulations and other agency actions affecting the digital assets sector that should be rescinded or modified. prohibits agencies from undertaking any action to establish, issue, or promote CBDCs: currencies that Trump has spoken against. “Except to the extent required by law, agencies are hereby prohibited from undertaking any action to establish, issue, or promote CBDCs within the jurisdiction of the United States or abroad,” the order reads. “Except to the extent required by law, any ongoing plans or initiatives at any agency related to the creation of a CBDC within the jurisdiction of the United States shall be immediately terminated, and no further actions may be taken to develop or implement such plans or initiatives.
In terms of consequences, the release says: “If any provision of this order, or the application of any provision to any person or circumstance, is held to be invalid, the remainder of this order and the application of its provisions to any other persons or circumstances shall not be affected thereby.”
Lastly, the executive order revokes the Biden Administration’s Digital Assets Executive Order and the Treasury Department’s Framework for International Engagement on Digital Assets, according to Fox. The previous order suppressed innovation and undermined U.S. economic liberty and global leadership in digital finance. Now, crypto is expected to thrive in value with institutional and national attention at an all-time high. While a strategic Bitcoin reserve is still not live, it is certainly on the cards with these latest crypto-regulation developments.
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