U.S. President Donald Trump signed an executive order on Thursday to review the creation of a “National Digital Asset Stockpile,” according to Fox News.
- As reported by FOX Business White House correspondent Edward Lawrence and shared by partner Eleanor Terret, the executive order established a “Presidential Working Group” on digital assets.
- This group is tasked with “evaluating the creation of a strategic national digital assets stockpile,” as well as creating a federal regulatory framework for digital assets and stablecoins.
- It will be chaired by White House AI and crypto czar David Sacks, and include heads of the SEC, Treasury, and other relevant agencies. Among other things, it also bars federal agencies from taking action to establish, issue, or promote a CBDC.
- Finally, this executive order revokes the Biden administration’s crypto executive order, issued in 2022.
- Trump initially promised to create a “strategic national Bitcoin stockpile” in July, but has now seemingly expanded the scope of its inclusion to other digital assets.
- Senator Cynthia Lummis is pushing legislation to formally establish a Bitcoin reserve, and to have the U.S. government sell some of its gold stash to buy 1 million BTC.
- Trump has already shown openness to other coins personally, launching his own official memecoin last week on the Solana blockchain.
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