Trump publishes a decree to stimulate the cryptocurrency industry

President Trump published a decree on Thursday to support the growth of the cryptocurrency sector, calling for a new plan to regulate a business in which he has substantial personal investments.

The decree, not very detailed, indicates that the Trump administration would create a working group on digital assets to develop a full plan which would include “regulatory and legislative proposals”. The group would also plan to create a national cryptocurrency stock, a reserve of digital parts controlled by the government that the industry has spent months putting pressure on the new administration to create.

“The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as in the international leadership of our country,” said the order. “The policy of my administration is therefore to support the growth and use responsible for digital assets. »»

Trump has an important personal interest in the success of the cryptography industry. Last year, he and his sons contributed to the creation of a cryptography company called World Liberty Financial, which sells a new digital currency called WLFI. This month, he and his wife, Melania, each started to sell the same, a type of cryptocurrency inspired by an online joke or a celebrity mascot.

These projects aroused criticism of ethics experts concerned with conflicts of interest. In fact, Mr. Trump tries to write the rules governing the commercial companies which he could personally take advantage of. He undertook to end the legal repression of the Biden administration against cryptography companies and carried out a series of selections of personnel in key federal agencies which seem ready to improve the prospects of the industry of the Cryptography.

In the decree, Trump said that his administration undertook to “protect and promote” the cryptography industry. He promised “fair access and open to banking services”, in response to complaints from cryptography companies that the banks had refused them.