US President Trump Signs Executive Order to Consider Digital Asset Stockpile

Donald Trump, the newly inaugurated president of the United States, signed a series of crypto-focused executive orders (EO) today, including one to create a “national digital asset stockpile.”

The series of orders include a designated Presidential Working Group with the goal of strengthening the U.S.’s leadership in digital finance, developing a regulatory framework for digital assets, and evaluating the creation of a strategic national digital asset stockpile, according to Fox.

The working group is set to be led by the newly appointed “AI and Crypto Czar,” and former host of the All-In podcast, David Sacks, alongside the Secretary of the Treasury David Lebryk and the Securities and Exchange Commission (SEC) Chair Mark Uyeda.

In addition to the executive order to further crypto development in the United States, the EO also prohibits agencies from promoting central bank digital currencies (CBDCs).

Awaiting a BTC Reserve

Crypto traders on social media have been anxiously awaiting the executive orders, In particular, they were hoping for the announcement of a national Strategic Bitcoin Reserve (SBR).

Senator Cynthia Lummis, a cryptocurrency advocate, was also elected chair of the Senate Banking Subcommittee on Digital Assets earlier in the day. Upon her acceptance Lummis said in a statement, “ Congress needs to urgently pass bipartisan legislation establishing a comprehensive legal framework for digital assets that strengthens the U.S. dollar with a strategic bitcoin reserve.”

However, Lummis clarified on her personal X page “remember to codify an SBR we need majorities in both houses. Make friends where you can.”

Despite the news, BTC is down 1.5% since the announcements to $103,000.