President Donald Trump signed an executive order Thursday prohibiting federal agencies from establishing, issuing or promoting central bank digital currencies.
The executive order also establishes the Presidential Working Group on Digital Asset Markets, which is tasked with developing a comprehensive federal regulatory approach for digital assets, creating guidelines for stablecoins and exploring the potential establishment of a national strategic digital asset reserve. AI and Crypto Czar David Sacks will chair the group, and it will include leaders from the Treasury Department, Securities and Exchange Commission and other relevant agencies.
“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,” the order said. “It is therefore the policy of my administration to support…
