Pres. Trump Issues EO Banning Central Bank Digital Currencies
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Pres. Trump Issues EO Banning Central Bank Digital Currencies
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On Thursday, President Trump signed an executive order related to cryptocurrency. Among other things, he banned the creation of a central ban digital currency in America.
From CoinMarketCap. On Jan. 23, U.S. President Donald Trump signed an executive order banning the creation and issuance of central bank digital currencies (CBDCs) in the United States. … It prohibits any federal agency from developing, promoting, or implementing plans related to CBDCs unless required by law. …
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The executive order, titled “Strengthening American Leadership in Digital Financial Technology,” also establishes a presidential working group to draft a regulatory framework for digital assets like cryptocurrencies and stablecoins. … Its mandate includes evaluating the creation of a national digital assets stockpile and addressing market oversight, consumer protection, and risk management for digital assets.
The stockpile is expected to include Bitcoin, with the U.S. government already holding over 198,000 Bitcoin valued at more than $20 billion …
The order also revokes a 2022 executive action by former President Joe Biden, which called for a framework to explore digital asset regulation, including the potential development of CBDCs. Trump’s ban fulfills his campaign promises to the cryptocurrency industry, where he vowed to oppose CBDCs and support Bitcoin. …
During a televised announcement, Trump reiterated his stance on making the U.S. a global leader in digital financial innovation. …
What do you think of this executive order? Share your thoughts and prayers below.
(Excerpt from CoinMarketCap. Photo Credit: David McBee/Pexels)
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Comments
A good order.
Agree with it. Under the trajectory we were on with the Administrative State, it could eventually be used for surveillance and to control purchasing at some point.
perfect very much needed eo to prevent govt surveilance of our every financial purchase Absolute shame on former president joe biden for his desire to control every u s citizen.