President Donald Trump has issued a digital financial technology executive order aimed at fostering a federal framework for cryptocurrency regulation and creating a national digital asset stockpile. The executive order also prohibits any government work on central bank digital currencies (CBDCs), marking a strong policy stance against their development.
Trump highlighted the importance of digital assets in a statement accompanying the order, emphasizing the industry’s role in innovation, economic growth, and strengthening the United States’ international leadership. His administration’s policy aims to promote the responsible growth and utilization of blockchain and digital asset technologies across various economic sectors.
To support this effort, a newly-formed working group will include key federal leaders such as the Secretary of the Treasury, the Attorney General, and the Secretary of Commerce. This group is tasked with presenting a comprehensive report within 180 days. The report will outline regulatory and legislative recommendations for managing and integrating digital assets in the U.S. economy.
One of the report’s focal points will be the feasibility and establishment of a national digital asset stockpile. This would involve evaluating the use of cryptocurrency seized by federal agencies and determining how these assets might bolster national interests.
At the same time, the executive order bans any actions by government agencies to establish or promote a CBDC. It also mandates the cessation of any ongoing work on the issue. This decision reflects Trump’s skepticism of centralized government-backed digital currencies, which he suggests could stifle financial freedoms and private-sector innovation.
In another measure, the executive order requires federal agencies to ensure fair access to banking services for crypto firms and other law-abiding entities. This move seeks to address industry concerns about exclusion from traditional banking systems and aims to create an equitable financial landscape that supports innovation.