US President Donald Trump has signed an executive order to establish a digital asset stockpile, according to a Fox report. Indeed, the “crypto president” is delivering on his promise to Americans and crypto fans to prioritize the industry. His latest executive order hasn’t been explicitly confirmed by the White House.

During his campaign, Donald Trump spoke highly of cryptocurrency, even speaking at the 2024 Bitcoin Conference. He has already spoken with multiple crypto industry experts since he was elected last November. Additionally, multiple lawmakers and state officials introduced bills to launch strategic state Bitcoin reserves, in a move preparing for a national reserve. Furthermore, the 47th US President appointed Mark Uyeda as acting US Securities and Exchange Commission (SEC) chair.

With anti-crypto head Gary Gensler resigning, Uyeda has already made progress amid Trump’s emerging agenda. In his first days, he also announced the arrival of the agency’s inaugural Crypto Task Force. Now, a digital asset stockpile is being formed.

What Does the Digital Asset Stockpile Do?

Trump’s latest executive order establishes the Presidential Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance. The Working Group will develop a Federal regulatory framework governing digital assets, including stablecoins, and evaluating the creation of a strategic national digital assets stockpile. In addition, the Working Group will be chaired by the White House AI & Crypto Czar David Sacks. It includes the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission, and the heads of other relevant departments and agencies.

Furthermore, the digital asset stockpile order directs departments and agencies to identify and make recommendations to the Working Group on any regulations and other agency actions affecting the digital assets sector that should be rescinded or modified. prohibits agencies from undertaking any action to establish, issue, or promote CBDCs: currencies that Trump has spoken against.

Lastly, the executive order revokes the Biden Administration’s Digital Assets Executive Order and the Treasury Department’s Framework for International Engagement on Digital Assets, according to Fox. The previous order suppressed innovation and undermined U.S. economic liberty and global leadership in digital finance. Now, crypto is expected to thrive in value with institutional and national attention at an all-time high. While a strategic Bitcoin reserve is still not live, it is certainly on the cards with these latest crypto-regulation developments.

The stockpile will likely house multiple cryptocurrencies like Bitcoin and XRP. Although, no explicit crypto asset was mentioned in the order.

    • crypto
    • crypto policy
    • Donald Trump