President Trump declares a national priority for the executive order

President Trump has announced a national priority encryption in an executive order Fell Thursday, hitting the intention to evaluate the strategic Bitcoin reserves, while in recent days, many have speculated that it might create one.

This aims to fulfill multiple promises that were presented to the encryption community, starting with some basic and strongly installed beliefs about coding, second self, and fair access to the banking system.

It also creates an organization, which is the president’s work group in the digital asset markets, to supervise the policies that will implement the intentions stipulated in order.

“The digital asset industry plays an important role in innovation and economic development in the United States, as well as the leadership of our international nation,” says the executive. “Therefore, my administration policy is to support responsible growth, use digital assets, Blockchain technology and related technologies in all sectors of the economy.”

A comprehensive guidance to promote encryption in the United States

The executive, which was the subject of a lot of speculation in the world of encryption, took a deliberate basic approach and priorities.

First, it provides for the intention to protect the encryption developers who contribute to the groups of public groups, miners, fighters and individuals who receive their own origins.

In addition, the matter is to protect “fair and open banking services for all citizens committed to both laws and entities of the private sector”-in a reference to the CokePoint 2.0 process, which has long been suspected of the encryption community. For encryption.

Read more: Organizers are limited to banks that serve encryption customers. Does this violate the law?

In addition, the executive order for federal agencies is prohibited to establish digital currencies for the Central Bank and cancel the executive order of the Biden Administration and the former Treasury Department A framework for international participation on digital assetsThat was previously directed to the Biden Administration to enhance the development of digital currency technologies for the Central Bank.

Checks working group

In order to implement the goals of the request, it creates an encoding working group that includes the Minister of Treasury, SEC and CFTC chairs, and many other federal heads.

It is worth noting that the executive order stops creating a strategic reserve for Bitcoin, something that the industry has been waiting impatiently since its election, although it states to communicate with the first step: evaluating the possibility. Trump promised at the Bitcoin 2024 conference in Nashville that he will not sell Bitcoin the federal government that he is currently carrying, a promise that has the ability to guarantee unilaterally via the executive order.

On social media, the encryption community commented on choosing the word “encryption”, instead of focusing on bitcoin, with the expression of Bitcoin’s currency of disappointment and other encryption tribes. Some also male The distinction between the “stock”, in which the government will keep the encryption that, in return for a “reserve”, will deliberately buy digital assets.

The matter states that during the first 180 days, the working group will present a report to the president focusing on a regulatory framework for the market structure and Stablecoins, both of which are legislation requested by the encryption industry for years.

The AI ​​and Crypto Special Adviser, who, although he was not named, must head Trump previously nominated to be David Sacks, a legitimate capitalist for a long time, currently from Craft Ventures.

It is worth noting that the Minister of Commerce must be part of the working group. If it is confirmed, it is possible that Howard Lootnick, CEO of Cantor Fitzgerald and the current candidate who has a minority stake in Tether.

Blocking digital currencies of the Central Bank

To support the growth of digital assets within the United States, Trump has ordered his management to protect the sovereignty of the US dollar by enhancing the development of the legitimate “Stablecoins backed by dollars worldwide.”

It also states that agencies are prohibited from working towards establishing, issuing, or promoting a digital currency for the Central Bank in the United States

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A new era for encryption

Although the majority of the official system that was previously submitted, giving Trump’s priority for encryption is a situation around the Biden administration, which attracted the anger of the industry because of its regular approach to encrypted currencies. The organizers appointed by the administration, especially Gary Ginserner, threw encryption companies as wandering in the law, although many companies felt that the current regulations were unclear.

SEC repeated enforcement procedures as well as CFTC and Treasury (albeit less often) led many advocates of encryption to the claim that the administration has supported the “enforcement organization” policy.

The Biden Administration position also led the CEO of the encryption industry, such as Gemini founders Cameron and Tyler WinkelvosCorner founder Jesse PowellAnd Ripple is the chief legal official STU aldeoty To donate generously to Donald Trump’s campaign. Many encryption companies also Give To the opening Trump Committee. The executive order today, in addition to nominating and appointing pro -quarter organizers in numerous Federalism AgenciesIs one of the ways that Trump pays the industry?

The news caused a bitcoin price from $ 104,000 to less than 106,000 dollars, before declining to 102,670 dollars at the time of the press, and market data appears from Coingecko.

Bitcoin lovers in Bitcoin Policy Institute and Satoshi’s work fund If the brainstorming is possible ways, Trump could also pave the way for the federal government to obtain more bitcoin using the Stock Exchange Fund (ESF), and a box -working box, which currently includes US dollars, foreign currencies, and international reserve assets created by the International Monetary Fund . The fund is, as the name suggests, the stability of American exchange rates, provides money for foreign governments, buy and sell foreign currencies, and use it to acquire the cryptocurrency was not useful.