President Donald Trump on Thursday ordered the formation of a working group to propose federal regulations for \u201cdigital assets\u201d \u2014 including cryptocurrencies, digital tokens, and stablecoins \u2014 and evaluate a national crypto stockpile.<\/p>\n\n\n\n
Ex-PayPal COO and founder of VC firm Craft Ventures David Sacks, Trump\u2019s pick for crypto an AI \u201cczar,\u201d will lead the working group. The group will also include the Treasury secretary, the attorney general, the secretary of Commerce, and other top officials.<\/p>\n\n\n\n
Trump\u2019s latest executive order \u2014 titled \u201cStrengthening American Leadership in Digital Financial Technology\u201d \u2014 comes two days after the Securities and Exchange Commission, currently led by crypto-friendly Republican Mark Uyeda, launched a crypto task force to \u201cdraw clear regulatory lines\u201d for the market. Uyeda will also be a part of the presidential working group.<\/p>\n\n\n\n
Former SEC Chair Gary Gensler had a reputation in the crypto community for pursuing stricter regulation of cryptocurrencies.<\/p>\n\n\n\n
Trump\u2019s order also protects individuals\u2019 rights to access, use, develop, and transact on public blockchain. This would formally protect blockchain activities as lawful.<\/p>\n\n\n\n
The EO signed Thursday repeals Biden-era rules around cryptocurrencies and digital assets. Specifically, it repeals an executive order from former President Joe Biden signed in 2022 to address the risks and harness the potential benefits of digital assets and their underlying blockchain technology, while emphasizing the need to protect consumers and investors. Trump\u2019s order also repeals a framework published by the Treasury Department in 2022 for international engagement in crypto and blockchain development.<\/p>\n\n\n\n
While Biden-era policies focused on risk mitigation and international collaboration, Trump\u2019s order prioritizes economic liberty and U.S. sovereignty.<\/p>\n","protected":false},"excerpt":{"rendered":"
President Donald Trump on Thursday ordered the formation of a working group to propose federal regulations for \u201cdigital assets\u201d \u2014 including cryptocurrencies, digital tokens, and stablecoins \u2014 and evaluate a national crypto stockpile. Ex-PayPal COO and founder of VC firm Craft Ventures David Sacks, Trump\u2019s pick for crypto an AI \u201cczar,\u201d will lead the working […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-1110","post","type-post","status-publish","format-standard","hentry","category-tech"],"_links":{"self":[{"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/posts\/1110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/comments?post=1110"}],"version-history":[{"count":1,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/posts\/1110\/revisions"}],"predecessor-version":[{"id":1111,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/posts\/1110\/revisions\/1111"}],"wp:attachment":[{"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/media?parent=1110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/categories?post=1110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.timesofmedia.com\/news\/wp-json\/wp\/v2\/tags?post=1110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}