The U.S. President Signs Cryptocurrency Executive Order, Establishing a Task Force to Strengthen Leadership in Digital Finance

According to Wu Shuo, Fox reporter Eleanor Terrett reported that the President of the United States has officially signed an executive order on cryptocurrency, establishing a Presidential Working Group on Digital Asset Markets to strengthen the U.S.'s leadership in the digital finance sector. The working group will develop a federal regulatory framework, including the regulation of stablecoins and a feasibility assessment of a national digital asset strategic reserve. It will be chaired by White House AI and Crypto Technology Advisor David Sacks, with members including the Secretary of the Treasury, the SEC Chair, and heads of relevant departments. The order requires federal agencies to review existing regulations and make recommendations to the working group, while also prohibiting agencies from promoting or issuing Central Bank Digital Currencies (CBDCs). Furthermore, the order revokes previous administrations' executive orders and the Treasury's international framework related to digital assets, stating that they stifled innovation and weakened the U.S.'s economic freedoms and global leadership.