Donald Trump is officially the 47th President of the United States, and the U.S. government is going in some different directions from the last administration.
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The narrative
U.S. President Donald Trump was sworn into office on Monday and quickly signed a flurry of executive orders. While it took him a few days to get to crypto-specific items, we’ve seen a number of actions from his administration already — not to mention the broader Republican Party.
Why it matters
These agencies and Congressional bodies’ initial actions set the tone for what we can expect as the new Congress and administration really get going this year.
Breaking it down
There’ll be time to go more into detail on some of these later, but for now:
White House/Administration
Donald Trump signed a highly-anticipated executive order on crypto. Among its provisions are items that:
- Create a working group composed of Cabinet officials, White House advisers and others tasked with identifying regulations that address crypto and recommending whether they be changed. AI and crypto czar David Sacks will chair this working group.
- Task the working group with evaluating a digital asset stockpile.
- Ban any central bank digital currency, with a somewhat broad definition of a CBDC.
- Revoke former President Joe Biden’s executive order on crypto, which mostly just directed his Departments to craft reports about various aspects of crypto and consumer protections.
Trump also announced that Sacks would co-chair his President’s Council of Advisors on Science and Technology.
The U.S. Securities and Exchange Commission,
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Author: Nikhilesh De
