President Trump signed an executive order aimed at promoting the adoption of digital assets and clarifying regulatory frameworks for cryptocurrencies in the US. The order bans the creation of central bank digital currencies, directs the exploration of a national digital asset stockpile, and seeks to protect banking services for crypto companies. It also rescinds SEC accounting guidance that had hindered companies from safeguarding crypto assets for third parties.
This is AI generated summarization, which may have errors. For context, always refer to the full article.The order also bans the creation of central bank digital currencies in the US which could compete with existing cryptocurrenciesworking group tasked with proposing new digital asset regulations and exploring the creation of a national cryptocurrency stockpile, making good on his promise to quickly overhaul US crypto policy.
“Today’s crypto executive order marks a sea change in US digital asset policy,” said Nathan McCauley, CEO and co-founder of crypto company Anchorage Digital. Bitcoin hit a fresh record high of $109,071 on Monday amid investor excitement over the new crypto-friendly administration, although it was down to about $103,000 as of late Thursday afternoon.
CRYPTOCURRENCY REGULATION DIGITAL ASSETS ECONOMY PRESIDENTIAL ORDER
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