President Trump has today published a decree on digital assets, making crypto a national priority.
Today, President Donald Trump has signed a new decree entitled “strengthening American leadership in digital financial technology” which supports the growth of the digital asset industry in the United States while cryptographic industry has become the One of the greatest donors of his presidential campaign after being besieged and awakened and attacked by regulations under the Biden administration, the executive order of today is proof that Trump is part of a declaration made during The campaign to make America the “cryptographic capital of the planet”.
The main political actions included the protection and promotion of citizens’ ability to use digital assets and develop technology of underlying blockchain without persecution, to protect the sovereignty of the US dollar by supporting the growth of the stablescoins supported in the world and protecting citizens from the dangers of a Digital Bank Digital Currency (CBDC) center.
The decree rejected what the industry considered as an attack on their ability to carry out business in the United States by previous administration due to “the Chokpoint 2.0 operation” (OCP 2.0). This concept was largely highlighted by the cryptographic entrepreneur Nic Carter, founding partner of Castle Island Ventures, who maintained a deliberate attempt by American regulators to “debit” individuals and entities working in cryptocurrency and to prevent Banks to offer cryptography services.
Trump also called for the creation of the president’s “working group of digital asset markets” to assess the regulations of American agencies which have an impact on the digital asset industry. Previously named the AI of the White House and the Czar Crypto, David Sacks was appointed to preside over the working group, which is anchored within the national economic council. This working group will aim to establish clear and transparent regulations for digital assets, with a particular emphasis on the Ministry of the Treasury, the Ministry of Justice and the Commission for Securities and Exchange.
The working group would also study the potential creation and maintenance of “national storage of digital assets”. This concept would potentially be to create such a stock from cryptocurrencies legally seized by the United States government through the efforts to apply the law. Before that, there was the highly discussed possibility of an executive decree creating a “strategic bitcoin reserve” similar to what senator Cynthia Lummis (R-Wyo.) Proposed in her Bitcoin law. However, the reports that Trump may want to consider a mixture of “made in the United States” cryptocurrencies may have led to a decision to delegate this effort to the working group.
Although he does not consider this to be an exedictive order the “first day” of the administration, having priority for Trump to sign this during his first week in power sends a strong signal which raises the cryptographic policy to the importance national and creates a way for digital assets to flourish and grow in the United States
