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President Trump wasted no time making his mark on the crypto world. Just a day after his inauguration, he signed an Executive Order titled Strengthening American Leadership in Digital Finance Technology, aiming to boost the growth of digital assets and blockchain technology. This move is part of a broader strategy, which includes three key executive orders focused on cryptocurrency, artificial intelligence, and advancing technology.
China’s DeepSeek is a new AI threat and Trump is in no mood to lose the booming AI sector with his executive orders largely based on the AI sector showing his commitment towards innovation and technology.
A Clear Focus on Crypto
Trump’s Executive Order highlights the importance of digital assets in driving innovation and economic growth. It sets out several key priorities:
Supporting blockchain networks, mining activities, and self-custody of digital assets.
Strengthening the global position of the U.S. dollar by promoting stablecoins.
Providing clear and fair regulations for the crypto industry, with well-defined rules for oversight.
In a major shift, Trump also revoked former President Biden’s 2022 crypto-related Executive Order, directing the Treasury Department to update its policies to align with the new market demands.
The New Crypto Task Force
To turn these plans into action, Trump established the President’s Working Group of Digital Asset Markets. This task force will be led by Silicon Valley venture capitalist David Sacks, known as the “Crypto Czar,” with Bo Hines serving as Executive Director. The group includes top officials from the Treasury, SEC, CFTC, and Homeland Security, who will work together to create a comprehensive regulatory framework for digital assets.
The newly formed Working Group on Digital Asset Markets is moving quickly to overhaul U.S. crypto regulations. By February 22, 2025, agencies like the Treasury, DOJ, and SEC must identify all existing crypto-related rules, guidance, and orders to evaluate what the federal government has done so far. By March 24, 2025, these agencies will recommend whether to keep, modify, or scrap these regulations.
By July 22, 2025, the Working Group will present a comprehensive report proposing a federal framework for digital assets. This will include rules for stablecoins, market structure, consumer protection, and risk management. The group will also evaluate creating a national digital asset stockpile using lawfully seized cryptocurrencies, though no immediate plans for a Bitcoin reserve are mentioned.
Trump’s Executive Order also bans federal agencies from creating or promoting Central Bank Digital Currencies (CBDCs), reflecting the administration’s stance that CBDCs threaten personal liberty.
What It Means for Crypto
Trump’s pro-crypto stance signals a major shift in U.S. policy. Trump’s administration is making bold moves to fulfill campaign promises, including firing Gary Gensler, ending Operation Chokepoint 2.0, and defending self-custody. With clear deadlines and a focus on innovation, the new policies aim to position the U.S. as a leader in the digital asset space.