Trump Signs Cryptocurrency Executive Order: Clarify Regulatory Framework and Explore National Crypto Reserve

BlockBeats News, January 24th, according to Fortune reports, U.S. President Donald Trump on Thursday solidified his pro-cryptocurrency stance in an executive order, stating that his administration will support the development and use of digital assets and blockchain technology.

The executive order instructs the government to establish a clear regulatory framework for the crypto industry and explore the creation of a national digital asset reserve, bringing several major victories to the cryptocurrency.

The executive order establishes the so-called President's Digital Asset Market Working Group, chaired by AI and cryptocurrency special advisor David Sacks, with other senior government members including the chairs of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The key points of this executive order include:

· Clarify the regulatory framework for the crypto industry to responsibly support industry growth

· Explore the establishment of a national digital asset reserve

· Prohibit government agencies from issuing CBDC

· Repeal SAB 121 that hinders institutions from holding cryptocurrency