President Donald Trump has signed an executive order to support the “responsible growth” of the digital assets industry.
According to a new memo released by the White House, Trump signed an executive order yesterday promoting the use of blockchains for individuals and entities.
Other aspects of the order include protecting US citizens from the risks of Central Bank Digital Currencies (CBDCs) by barring them, promoting fair and open access to banking services for all, and defending the rights of those who choose to self-custody their assets.
“The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership.
It is therefore the policy of my Administration to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.”
The order also establishes a Working Group – made up of people in key roles such as the Secretary of the Treasury, the Attorney General, and the Homeland Security Advisor – that would consider creating a crypto stockpile out of the digital assets legally frozen by the Federal Government.
“The Working Group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.”
Trump’s order also establishes protections for miners, saying that they could freely engage in developing, mining, and validating.
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