Trump signs order establishing cryptocurrency working group.

Trump signs order establishing cryptocurrency working group.

The crypto advisory council will promote the creation of Trump’s proposed bitcoin reserve, advise Congress on crypto legislation, and direct policies on digital assets.

 

The president of the United States, Donald Trump, fulfilled a campaign pledge on Thursday to form a working group on cryptocurrencies after courting money from digital asset companies and promising to be a “crypto president.”

 

Donald Trump of the United States (AP)

U.S. President Donald Trump (AP) According to a previous report by Reuters, the crypto advisory council is anticipated to provide guidance on digital asset policy, collaborate with Congress on crypto legislation, assist in creating Trump’s promised bitcoin reserve, and facilitate coordination amongst agencies such as the Treasury, Commodity Futures Trading Commission, and Securities and Exchange Commission.

FAQ

The working group aims to promote the development of a bitcoin reserve, provide advice to Congress on cryptocurrency legislation, and guide policies on digital assets. It will also facilitate coordination between government agencies like the Treasury, Commodity Futures Trading Commission (CFTC), and Securities and Exchange Commission (SEC).

The bitcoin reserve is part of President Trump’s vision to integrate cryptocurrencies into the U.S. economy strategically. It involves creating a national reserve of bitcoin to bolster the country’s position in the global digital asset landscape.

The group is expected to foster collaboration between the government and digital asset companies, providing clearer regulatory frameworks and opening opportunities for innovation in the cryptocurrency sector.

Key agencies include the Treasury Department, Commodity Futures Trading Commission (CFTC), and Securities and Exchange Commission (SEC). These agencies will coordinate their efforts to regulate and support the digital asset ecosystem.

The working group will collaborate closely with Congress to develop and enact legislation that supports the growth and regulation of cryptocurrencies, ensuring a balanced approach to innovation and security in the digital asset industry.

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