Trump Signs an Executive Order Creating a Cryptocurrency Task Force

President Donald Trump yesterday signed a new executive order titled “Strengthening American Leadership in Digital Financial Technology,” which aims to support the growth of the digital asset industry in the United States.

The executive order is seen as a follow-through on a statement made by Trump during his Presidential campaign, where he promised to make America the “crypto capital of the planet.”

The order includes key policy actions such as protecting and promoting the use of digital assets and blockchain technology by citizens without fear of persecution, supporting the growth of dollar-backed stablecoins globally to protect the sovereignty of the US dollar, and safeguarding citizens from potential risks of a central bank digital currency.

It also addresses concerns raised by the crypto industry about the prior Administration’s actions, specifically Operation Chokepoint 2.0 (OCP 2.0), which was believed to restrict their ability to conduct business in the US.