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Trump signs executive order to establish cryptocurrency working group: assess the creation of a national reserve, ban CBDC

ChainCatcher news, Trump has signed an executive order to establish a Presidential Digital Asset Market Working Group. The task of the working group is to develop a federal regulatory framework for managing digital assets (including stablecoins) and to assess the creation of a strategic national digital asset reserve. The working group will be chaired by the White House's "AI and Cryptocurrency Czar" David Sacks, with members including the Secretary of the Treasury, the SEC Chair, and heads of other relevant departments and agencies. The executive order directs departments to propose recommendations to the working group regarding any regulations and other agency actions that should be rescinded or modified that impact the digital asset sector.Additionally, the executive order prohibits agencies from taking any action to establish, issue, or promote central bank digital currencies (CBDCs). The order also rescinds the previous administration's "Digital Asset Executive Order" and the Treasury's "Framework for International Engagement on Digital Assets," stating that these two executive orders stifled innovation and harmed America's economic freedom and global leadership in the digital finance space.Previously, news reported that U.S. President Trump stated he was signing executive orders related to AI and cryptocurrency.
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