Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Trump Bans CBDC, Forms Task Force To Regulate Cryptocurrency and Create Bitcoin Stockpile
    Cryptocurrency

    Trump Bans CBDC, Forms Task Force To Regulate Cryptocurrency and Create Bitcoin Stockpile

    January 23, 20252 Mins Read


    On Jan. 23, U.S. President Donald Trump signed an executive order banning the creation and issuance of central bank digital currencies (CBDCs) in the United States. The order defines CBDCs as digital money denominated in the national currency and directly issued by the central bank. It prohibits any federal agency from developing, promoting, or implementing plans related to CBDCs unless required by law. Any ongoing initiatives must be immediately terminated.

    The executive order, titled “Strengthening American Leadership in Digital Financial Technology,” also establishes a presidential working group to draft a regulatory framework for digital assets like cryptocurrencies and stablecoins. This group, chaired by David Sacks, Trump’s “AI and crypto czar,” will include the treasury secretary, attorney general, and chairs of the SEC and CFTC. Its mandate includes evaluating the creation of a national digital assets stockpile and addressing market oversight, consumer protection, and risk management for digital assets.

    The stockpile is expected to include Bitcoin, with the U.S. government already holding over 198,000 Bitcoin valued at more than $20 billion from enforcement actions. At the Bitcoin 2024 Conference, Trump pledged to establish a strategic Bitcoin reserve, repurposing seized assets for national use. This aligns with a proposal by Senator Cynthia Lummis, who introduced a bill to acquire 200,000 Bitcoin annually over five years to build a million-Bitcoin reserve. However, Lummis’s legislation must pass Congress before reaching Trump’s desk.

    The order also revokes a 2022 executive action by former President Joe Biden, which called for a framework to explore digital asset regulation, including the potential development of CBDCs. Trump’s ban fulfills his campaign promises to the cryptocurrency industry, where he vowed to oppose CBDCs and support Bitcoin. He also recently granted a full pardon to Silk Road founder Ross Ulbricht, another commitment from his campaign.

    During a televised announcement, Trump reiterated his stance on making the U.S. a global leader in digital financial innovation. He also hinted at other crypto-related initiatives, such as ensuring Bitcoin is “Made in the USA,” though no further details have been provided on this promise.

    While the executive order takes a firm stance on digital currencies, it raises questions about the president’s authority to enact such sweeping measures. Courts have previously challenged Trump’s executive actions, such as his attempt to revoke birthright citizenship. As the working group begins its task and legislative discussions progress, the long-term impact of this policy remains to be seen.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Man arrested for illegal cryptocurrency transactions worth over Rs 7.8 million – The Himalayan Times – Nepal’s No.1 English Daily Newspaper

    Cryptocurrency

    Cryptocurrency News Live: Bitcoin, Ethereum, Solana updates; check prices, trading activity, m-cap

    Cryptocurrency

    Five Strategies to Strengthen Your Position as a Reputable Broker

    Cryptocurrency

    Investing in Green Crypto: Why Bitcoin.ℏ Could Be the Future of Digital Currency

    Cryptocurrency

    China bans cryptocurrency: Fact vs fiction

    Cryptocurrency

    ECB Reaffirms Commitment to Cash as Digital Euro Advances

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Stock Market

    5 things to know before the stock market opens Wednesday, October 30

    Commodities

    Modelling the demography of agricultural tran

    Commodities

    Aura nomme Mohamed Sid’Ahmed DG des opérations sur sa mine d’uranium Tiris

    Editors Picks

    Après la pause de Trump, volte-face spectaculaire à la Bourse de New York

    April 10, 2025

    HQ lands Amex Ventures investment, plans ground transportation platform enhancements

    July 22, 2024

    UK Government pumps $J3.5 billion into major agricultural development in Jamaica’s southern plains

    April 26, 2025

    RBC Abaisse la Recommandation sur United Utilities, Jugeant le Potentiel de Hausse « Limité »

    June 22, 2025
    What's Hot

    Thailand may tell us a great deal about the future of money

    August 5, 2024

    ‘My heart is not there’: Poland keeper Wojciech Szczesny retires from football | Poland

    August 27, 2024

    L’essor des négociants d’électricité privés en Afrique du Sud accélère la transition énergétique

    March 12, 2025
    Our Picks

    A muted opening likely on Wall Street today? What Dow, S&P 500 futures signal

    February 19, 2025

    Why Platinum Prices Are Skyrocketing in 2025

    July 16, 2025

    Zhejiang China Commodities City nomme son vice-président -Le 19 février 2025 à 08:43

    February 18, 2025
    Weekly Top

    Controversial property developer Matthew Doyle and his wife Kelsea sell their Sydney home for $2.8million

    August 4, 2025

    Stock Market Today: Sensex Falls Over 350 Points, Nifty Below 24,650 In Opening Trade; Check Details | Markets News

    August 4, 2025

    Adani Energy Solutions shares in focus today, here’s why 

    August 4, 2025
    Editor's Pick

    The Advantages of Cryptocurrency: Why Digital Currency is the Future of Finance

    April 23, 2025

    RAC owners plot route to £5bn sale or stock market listing | Money News

    July 31, 2025

    Bitcoin Price by 2050 – $52 Million Treasure or Zero-Dollar Trap

    August 24, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.