President Donald Trump Release An executive matter entitled “Promoting US leadership in digital financial technology” aimed at “strengthening US leadership in digital assets”.
However, the likes of bitcoin may be disappointed because the arrangement is not specifically mentioned bitcoin, rather than focusing on the coded currency on a larger scale.
It is generally related to the repetition of the administration’s support for the industry and includes a focus on “enhancing fair and open access to banking services for all individual citizens committed to law and private sector entities.”
He also calls for a review of the regulations, creates a business group for the president, and calls for an investigation into the creation of “” “National digital assets stocks“And attempts to ban digital currencies of the Central Bank (CBDCS) with a wide -ranging definition.
The main working group in digital assets markets
It will create a “president’s working group in digital asset markets”. This will consist of a variety of different federal leaders, including the Treasury Secretary, the Public Prosecutor, the Minister of Commerce, as well).
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This working group has been charged with submitting a report “Will recommend organizational and legislative proposals” within 180 days. This includes the proposal of “a federal regulatory framework that governs the issuance and operation of digital assets, including stablecoins.”
In addition, the executive matter insists that the Treasury, the Ministry of Justice (Doj) and SEC must “determine all regulations, guidance documents, requests or items that affect the digital assets sector” within 30 days.
Within 60 days, these people are supposed to recommend “whether to cancel, modify or amend both the specific regulations, orientation document or any other element.”
Arrangement It cancels a former executive of the Biden Administration (14067)Which called on the organizers to investigate the organization of the appropriate cryptocurrency and CBDCS.
Bitcoin strategic reserves?
Trump has previously promised that he would create “strategic national bitcoin stock” dependent on “100 percent of all bitcoin coin currently maintained by the United States government or gets it in the future.”
This extends beyond Bitcoin to make the working group “assessing potential creativity and maintaining the stock of national digital assets … it is possible that it is derived from the cryptocurrencies that the federal government has legally seized through law enforcement efforts.”
It was not mentioned in the arrangement about Trump’s other promise that all bitcoin will be “present” soon in the United States.
No cbdcs
It also takes the goal of CBDCS, in an attempt to prevent agencies from taking “any action to create, issue or strengthen CBDCs within the jurisdiction of the United States or abroad.”
However, the definition of CBDCs in the order is incredibly wide, and defines it as “digital funds or cash value, based in the national unit of the account, which is a direct responsibility of the central bank.”
Federal Reserve Obligations It includes The reserves of “more than 5,000 deposit institutions” as well as the general account of the US Treasury. In addition, foreign banks often maintain deposits in the federal reserve.
It seems that all of these different accounts are the cash value, which was observed on the book of Professor Al -Darami, the resistance in the national unity of the account, and the direct responsibility of the Central Bank. However, most of these experts will not be considered CBDCS.
This definition CBDC is very similar to the definition of the International Settlement Bank identification CBDCs as “a digital payment tool, densely in the National Account Unit, which is a direct responsibility for the Central Bank.”
However, this definition changes the “digital payment tool” from the phrase “digital money or cash value”.
Widely, this executive is Trump Fulfillment of promises of a campaign to cod the componentsThis indicates that he will take over the regulations they do not support, and maintain the possibility of a reform of digital assets alive.
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