Trump signs executive order to explore creation of national cryptocurrency stockpile
Date
1/26/2025 4:38:05 AM
(MENAFN) US President Donald trump has signed an executive order aimed at exploring the creation of a national cryptocurrency stockpile and developing a comprehensive digital asset policy, according to the White House. The order, titled “Strengthening American Leadership in Digital Financial Technology,” was signed on Thursday and emphasizes promoting US leadership in digital assets and blockchain technology, while ensuring economic liberty.
The executive order establishes a new Working Group on Digital Asset Markets, led by a Special Advisor for AI and Crypto. In December, Trump appointed venture capitalist David Sacks as his crypto and AI “czar” to guide relevant policies. The working group will advise on digital asset policy, collaborate with Congress on cryptocurrency legislation, and assess the feasibility of creating a national cryptocurrency stockpile. This initiative could include digital assets seized by law enforcement, such as those linked to criminal activities like cybercrime and drug trafficking, which were previously auctioned off by the government.
Trump has shifted his position on cryptocurrencies, which he initially criticized during his first term, now supporting the growth of legitimate, dollar-backed stablecoins. This move contrasts with the cautious stance of the Biden administration, which focused on stricter cryptocurrency regulations to prevent fraud and money laundering.
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