Trump orders crypto working group to draft new regulations, explore national stockpile
Jan 23 (Reuters) – U.S. President Donald Trump on Thursday ordered the creation of a cryptocurrency working group tasked with proposing new digital asset regulations and exploring the creation of a national cryptocurrency stockpile, making good on his promise to quickly overhaul U.S. crypto policy.The much-anticipated action also ordered that banking services for crypto companies be protected, alluding to industry claims that U.S. regulators have directed lenders to cut crypto companies off from banking services – something regulators deny. The order also banned the creation of central bank digital currencies in the U.S. which could compete with existing cryptocurrencies.
They never learn.
A stain on Trump's legacy.
Zero accountability.
Don't be alarmed; it gets much worse. https://t.co/uH0623KU86
— The Great Martis (@great_martis) January 24, 2025
So here’s the plan. We have massive unprecedented deficits. So we’re going to borrow or print a lot more money to buy imaginary assets because those imaginary assets have gone up a ton and thus will always go up a ton. Got it? Utopia follows. pic.twitter.com/RyyqVdbYah
— Clifford Asness (@CliffordAsness) January 24, 2025
A utopia of endless prosperity? More like a ticking time bomb waiting to implode under its own weight.