Hot Moments Happening! Donald Trump Signed Crypto Currency Order, White House Released Statement! Is Bitcoin Reserve Coming in the USA? All You Need to Know Here

The White House has announced a comprehensive new initiative aimed at strengthening American leadership in digital financial technology by preserving economic freedom on the one hand and supporting innovation in blockchain and digital assets on the other.

The administrative order signed by the President sets a solid framework to promote growth in the digital asset sector, while addressing regulatory clarity, consumer protection, and the risks associated with Central Bank Digital Currencies (CBDCs) (.

The initiative puts forward policies that promote responsible growth and innovation in digital assets, including the following:

• Protection of Blockchain Access: Ensuring that individuals and private sector organizations can legally access and use public blockchain networks, participate in mining, transact without censorship, and self-custody digital assets.
• Dollar Hegemony: To support the global dominance of the US dollar, legitimate development of dollar-backed stablecoins is supported.
• Fair Banking Access: Ensuring fair access to banking services for law-abiding individuals and businesses.
• Regulatory Clarity: Developing technology-agnostic regulations and transparent frameworks to support innovation in digital assets, blockchains and distributed ledger technologies.
• Preventing CBDCs: To prevent the establishment, issuance, and use of Central Bank Digital Currencies (CBDCs), citing concerns about financial stability, individual privacy, and US sovereignty.

Emir is canceling the Executive Order No. 14067 issued in 2022 and the Ministry of Treasury's 'International Participation Framework for Digital Assets'. Both aimed to ensure the responsible development of digital assets, but are now considered inconsistent with the new policies of the administration.

To advance the specified goals, the President established the Digital Asset Markets Working Group within the National Economic Council. The tasks of this group, led by the newly appointed Artificial Intelligence and Crypto Special Advisor, will be as follows:

• Proposing a federal regulatory framework for digital assets, including stablecoins.
• Evaluate the creation of a national digital asset stock obtained from potentially legally seized cryptocurrencies. Identification and proposal of changes in existing regulations affecting the digital asset sector.
• The Working Group will consult with institutions such as the Treasury, the Ministry of Justice, and the Securities and Exchange Commission, and public sessions will be planned to obtain the opinions of industry leaders.

One important provision of the decree explicitly prohibits any government institution from developing or implementing Central Bank Digital Currencies.

The use of the term Bitcoin inventory instead of Bitcoin reserve in the published statement caught attention. The term inventory may have been used to preserve and not require the purchase of the existing asset, unlike the term reserve.