The Vision for Crypto in the US Under President Trump
Key Points from the Executive Order:
- Establishment of a crypto working group to advance crypto in the US
- Potential prohibition of a US CBDC issuance and circulation
- Exploration of a national crypto stockpile
President Donald Trump recently signed an executive order to establish a crypto working group aimed at enhancing the development of the crypto industry in the United States.
During the signing on TV, Trump was accompanied by his AI and crypto czar David Sacks, who emphasized the goal of making America the global crypto capital under the president’s leadership.
The working group, if implemented, will consist of key figures such as the US Treasury secretary, attorney general, chairs of the SEC and CFTC, and other agency heads.
The order highlights the importance of the digital asset industry in driving innovation and economic growth within the country and on an international scale.
Among its objectives, the working group aims to provide regulatory clarity, safeguard the US dollar through lawful stablecoin development, and prevent the establishment of a central bank digital currency within the US jurisdiction.
Trump’s nominee for US Treasury secretary, Scott Bessent, expressed skepticism towards the need for a CBDC in the country, citing it as a measure for nations with limited investment options.
Additionally, the working group will explore the feasibility of a crypto stockpile sourced from legally seized cryptocurrencies by the Federal Government.