Trump’s CEO paves the way for the federal reserve of encrypted currencies, but it does not mention Bitcoin currency

President Donald Trump signed it The first executive matter related to encryption On Thursday, he officially established a presidential working group concerned with digital asset markets and laying the foundation to explore some of his campaign promises – including the possibility of creating a national bitcoin reserves and other assets.

The Presidential Labor Group will advise Trump on matters related to encrypted currency policy and inform the decision -making process in relation to this industry. Trump previously announced that the group will be led by the investment capitalist in the Silicon Valley David Sachs, the first “Caesar for artificial intelligence and encrypted currencies” at the White House.

Seed Bo Heinz will manage his daily operations, and he is a Republican candidate for Congress and a former university football player. The group will also include the Minister of Treasury, the heads of the Securities and Stock Exchange Committee, the CFTC and other leaders of departments and agencies.

Decoder It was previously reported that the council is expected to consist of 20 founders and executive director of encrypted currencies. Industrial donors are likely to have the Trump presidential campaign – and perhaps for his opening box as well – with priority. The group does not have any real authority alongside the opportunity to advise Trump and Congress, who will make its own decisions.

The executive order, titled “Promoting American Leadership in Digital Financial Technology”, costs the group to explore the hypothesis of “Strategic National Digital Assets”, following the Trump campaign promise to create a national bitcoin reserve.

Such an idea has been strengthened in the Senate through the Bitcoin Law on the Sinnur Senteya Lomes, in addition to that many states are now studying their bitcoin reserves. However, the executive matter does not mention Bitcoin by name, nor does it mention any other specific encoded assets.

Moreover, the agencies indicate that agencies are prohibited from launching digital currencies of the Central Bank, or CBDCS, which are often referred to as “digital dollars”. Republicans have been widely mocked of these central cryptocurrencies due to privacy concerns.

It also aims to “protect and enhance the rights of American companies and citizens to deal with and retain cryptocurrencies, extract cryptocurrencies, verify the validity of Blockchain transactions, and launch Blockchain program.

Trump is also expected to follow this first executive matter related to cryptocurrencies on several other orders. The maximum priority for this industry was to cancel the SAB 121 base issued by the Securities and Exchange Commission, which does not encourage American banks to keep encrypted currencies. Congress SAB 121 eliminated last spring, but former President Joe Biden used the veto against legislation, and left the base in place.

Trump can cancel SAB 121 with an executive order, and it is widely expected to do so.

The policies of other cryptocurrencies that Trump may address in future executive orders to cancel the controversial exchange base issued by the Securities and Exchange Commission, which target decentralized financing projects, and direct federal agencies, including the Ministry of Foreign Affairs, to make enhancing cryptocurrency innovation national priority.

With or without executive orders, the Trump administration has already started to start when it comes to cryptocurrencies. On Tuesday, the Securities and Stock Exchange has established a new team of encrypted currencies led by Hyster Peres, the commissioner for the industry, categorically.

The team aims to “formulate reasonable disclosure frameworks” that allows the projects and companies of encrypted currency to register legally if necessary. Doing this will end the long -term effective policy pursued by the Securities and Stock Exchange Authority to regulate the industry through implementation, which is the approach that brought a lot of uncertainty to the sector and pushed many companies out of the country.

Editor’s note: This story was expanded with more details after publishing.