No, Trump did not create a stock of bitcoin

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In a long -awaited executive order from the cryptocurrency community, President Trump took the first set of measures that govern digital assets earlier in the day. However, despite the previously circulated rumors that the president would create a precaution for encrypted currencies, in his executive order entitled strengthening American leadership in digital financial technology, Trump targeted the actions of the previous administration, forming a new working group for digital markets and imposing a prohibition on the digital currencies of the Central Bank.

Trump has created the digital asset working group through the first executive order of encrypted currencies since he took power

Trump’s executive order begins to cancel President Biden’s order to ensure the responsible development of the digital assets issued in March 2022. The matter has directed the authorities to investigate the methods of monitoring digital assets and investigating America’s development of the Central Bank’s digital currency (CBDC). The digital currency issued by the central bank is simply a digital version of a country for a country, and Trump also targets the digital currencies issued by the central bank.

The agencies are directed to stop taking any action that may lead to the development of digital currencies for the Central Bank and stop the current procedures as well. In addition to the prohibition of digital currencies of central banks and the cancellation of the executive order of the previous administration, Trump also aims to conduct the framework of the Ministry of Treasury, which aims to work on the executive order during the Biden era on digital assets.

While the executive order to strengthen the American leadership in the field of digital financial technology aims at the measures taken by the previous administration, its prominent feature is to create a working group within the National Economic Council on the digital asset markets. The Economic Council considers the main forum in which the president analyzes economic issues, and as a result it heads it.

The Trump working group will include the treasury, trade and internal security ministers alongside the Prosecutor, the Chief Securities and Exchange Commission and the Anti -Terrorism Committee. The working group will evaluate the regulations and orders related to digital assets and submit a report to the president that clarifies the regulations that must be approved within 180 days.

This report will be covered in the first place two fields. The first will include rules for the federal framework that governs digital assets through a lens.Market structure, control, consumer protection and risk management.“

The second field is the place where Bitcoin or strategic cryptocurrency reserves play. While President Trump did not establish a reserve immediately through the executive order, he ordered the working group to study the matter in detail before submitting a recommendation.

The part of the executive order determines the reserve is as follows:

The working team must assess the possibility of establishing and maintaining a national stock of digital assets and suggesting criteria to create such a stock, which is likely to be derived from the encrypted currencies that the federal government legally seized through law enforcement efforts.

The President’s actions are rational, given the important policy framework required to create the first digital asset reserves. By asking his team to evaluate all the rules and regulations surrounding the digital currency and recommending standards, it appears that Trump slows down to create a national stock of digital assets. This stock can include assets like stable currencies, which are related to currencies and commodities and give the reserve greater stability than those in encrypted currency markets.