Trump Signs Executive Order to Establish Pro-Crypto Policies in U.S.
U.S. President Donald Trump issued an executive order aimed at creating a favorable environment for the crypto industry and exploring a "digital asset stockpile." Key points include:
- The order allows for a more welcoming framework for digital assets in the U.S.
- Bitcoin briefly surged above $106,000 before settling at $103,500, down 0.51% in 24 hours.
- A working group chaired by David Sacks will evaluate regulations affecting crypto and report recommendations within specified timeframes.
- The order prohibits work on U.S. central bank digital currency (CBDC) and revokes previous orders from the Biden administration.
- Congress plans to advance its own crypto oversight initiatives, including stablecoin legislation.
- Senate Banking Committee Chairman Tim Scott expressed support for collaboration with Trump on crypto clarity and opportunities.