On Thursday, U.S. President Trump signed an executive order establishing a cryptocurrency task force, tasked with proposing new regulations for digital assets and exploring the possibility of creating a national cryptocurrency reserve. This fulfills his campaign promise to rapidly reform U.S. cryptocurrency regulatory policies and to recognize Bitcoin as a strategic reserve asset. Trump also called for the protection of banking services for cryptocurrency companies and banned the establishment of central bank digital currencies (CBDCs) that could compete with existing cryptocurrencies.