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Trump Signs Order to Boost U.S. Leadership in Digital Finance
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It aims to solidify the United States’ position at the forefront of the digital asset and financial technology sectors.
This move from Trump underscores the administration’s commitment to fostering innovation while safeguarding economic freedom.
Key Objectives of the Executive Order
1) Promoting Open Blockchain Networks
The order emphasizes the protection and promotion of individuals and private entities’ rights to access. Also, to use open public blockchain networks for lawful purposes. This includes the development and deployment of software, and participation in mining and validation processes. Also, conducting transactions without unlawful censorship, and maintaining self-custody of digital assets.
2) Upholding the U.S. Dollar’s Sovereignty
A significant focus is placed on bolstering the U.S. dollar’s dominance. This involves encouraging the development and global adoption of legitimate dollar-backed stablecoins.
BREAKING:
President Trump signs executive order on crypto to develop national digital asset stockpile — FOX
— Bitcoin Magazine (@BitcoinMagazine) January 23, 2025
3) Ensuring Fair Access to Banking Services
The executive order mandates the promotion and protection of equitable access to banking services for all law-abiding citizens and private entities. It ensures that the financial system remains inclusive and fair.
4) Providing Regulatory Clarity
The order calls for clear, technology-neutral regulations and transparent decision-making. This approach supports a vibrant digital economy. It encourages innovation in digital assets, permissionless blockchains, and distributed ledger technologies.
5) Opposing Central Bank Digital Currencies (CBDCs)
The order explicitly prohibits the establishment, issuance, circulation, or use of any CBDC within the United States. The administration expresses concerns that CBDCs could threaten financial stability, individual privacy, and national sovereignty.
JUST IN:
— Bitcoin Magazine (@BitcoinMagazine) January 23, 2025
6) Revocation of Previous Policies
In a decisive shift, the executive order revokes Executive Order 14067, titled “Ensuring Responsible Development of Digital Assets,” issued on March 9, 2022. Additionally, it directs the Secretary of the Treasury to withdraw the “Framework for International Engagement on Digital Assets” released on July 7, 2022. These actions signal a clear departure from prior approaches to digital asset regulation.
Formation of the President’s Working Group on Digital Asset Markets
To further these objectives, the order establishes the President’s Working Group on Digital Asset Markets within the National Economic Council. Chaired by the Special Advisor for AI and Crypto, this group comprises key officials, including the Secretary of the Treasury, the Attorney General, and the Chairpersons of the Federal Reserve, Securities and Exchange Commission, and Commodity Futures Trading Commission.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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January 24, 2025 at 08:49AM
January 24, 2025 at 08:50AM
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