On January 24th, COINOTAG News reported that President Trump executed an executive order to form the President’s Working Group on Digital Assets. This initiative aims to create a cohesive federal regulatory framework for digital assets, particularly focusing on stablecoins. The Group, led by White House advisor David Sacks, who specializes in AI and crypto, includes key figures such as the Secretary of the Treasury and the Chairman of the SEC, among others.
The executive order mandates these departments to evaluate existing regulations and recommend necessary repeals or modifications that could impact the digital asset landscape. Additionally, the order unequivocally prohibits federal agencies from initiating, issuing, or endorsing a central bank digital currency (CBDC). It also annuls previous digital asset measures introduced by the prior administration, critiquing them for hindering innovation and diminishing the United States’ standing in the global digital finance arena.
Source: https://en.coinotag.com/breakingnews/trumps-executive-order-shapes-future-of-digital-assets-and-stabilizes-stablecoins/