The newly established Presidential Task Force on Digital Asset Markets will work to develop a federal regulatory framework governing digital assets and consider creating a “strategic national stockpile of digital assets.”
The working group was formed by A Executive order The White House said in a statement that President Donald Trump signed it Fact sheet Released Thursday (January 23).
“The digital asset industry plays a critical role in innovation and economic development in the United States, as well as our nation’s international leadership,” the executive order said. “It is therefore the policy of my administration to support responsible growth and use of digital assets, blockchain technology and related technologies in all sectors of the economy.”
The working group will be chaired by the White House AI and Cryptocurrency Administrator, and will include the heads of relevant departments and agencies, including Ministry of Treasury and Securities and Exchange Commission (SEC), according to the fact sheet.
“The White House’s AI and Cryptocurrency Czar will engage leading experts in digital assets and digital markets to ensure the working group’s actions are informed by expertise beyond the federal government,” the fact sheet stated.
The Executive Order also directs departments and agencies to identify regulations and other actions affecting the digital asset sector that should be rescinded or modified; Agencies are prohibited from doing anything to promote central bank digital currencies (CBDCs); It repeals the Biden administration’s Digital Assets Executive Order and the Treasury Department’s order Framework for international engagement on digital assets.
The fact sheet said that Biden administration The measures it repealed “suppressed innovation and undermined American economic freedom and global leadership in digital finance.”
Eat the news, Brian Armstrongco-founder and CEO of the cryptocurrency exchange Coinbasehe said on Thursday mail On X: “Executive Order on Cryptocurrencies Has Arrived – Bullish!”
The establishment of the working group came two days after the launch of the Securities and Exchange Commission Cryptography Task Force It focused on developing a “comprehensive and clear” regulatory framework for cryptocurrency assets.
The SEC’s task force will help the Commission “draw clear regulatory lines, provide realistic paths to regulation, and formulate reasonable disclosure frameworks.” and “Deploy enforcement resources judiciously,” the SEC said Tuesday (Jan. 21). press release.
