President Trump has signed an executive order that seeks to regulate cryptocurrency, aiming to make the U.S. a “crypto capital of the planet.” The order establishes a Digital Asset Markets working group, which includes key government officials like the Treasury Secretary and former SEC head, to develop frameworks for stablecoins and establish a national crypto stockpile.
The initiative is expected to boost confidence in cryptocurrencies by providing clearer regulations, similar to how gold is treated as a commodity. Critics note that stablecoins’ stability depends on the issuing parties, while supporters highlight the potential for increased accessibility to digital payments like credit and debit cards.
Public reactions vary: some, like crypto enthusiasts and financial experts, view it positively as it could offer basic protections and stability. Others, such as Guggenheim Partners’ Anne Walsh, remain skeptical, comparing crypto to traditional stock exchanges but cautioning against its risks.
This order follows a 2022 Biden administration crypto regulation framework that didn’t materialize, leaving the industry uncertain. Trump’s support for crypto has roots in Republican backing and personal involvement, including issuing NFTs and meme coins.
The new order is seen as a significant shift by the government towards digital asset policies, with some institutions like Bank of America viewing it as an opportunity to modernize banking systems. However, not everyone shares this optimism, with experts like Guggenheim Partners expressing cautious views on crypto’s role in finance.
In summary, Trump’s executive order represents a pivotal moment in U.S. crypto regulation, with mixed reactions from stakeholders but poised to shape the future of digital assets.
Source: https://eu.usatoday.com/story/money/2025/01/24/trump-crypto-executive-order/77928793007