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 in US, forms cryptocurrency working group to explore ‘Digital Asset Stockpile’
    Cryptocurrency

    Trump bans CBDC in US, forms cryptocurrency working group to explore ‘Digital Asset Stockpile’

    January 24, 20252 Mins Read


    Fulfilling yet another election promise, US President Donald Trump, via executive order, has banned the Central Bank Digital Currency (CBDC) in the US. The order, signed on Thursday, revoked the Department of the Treasury Framework of July 7, 2022, and an order (Ensuring Responsible Development of Digital Assets) that was passed on March 9, 2022.

    “Except to the extent required by law, agencies are hereby prohibited from undertaking any action to establish, issue, or promote CBDCs within the jurisdiction of the United States or abroad,” Trump’s order says.

    It says that any ongoing plans related to the creation of a CBDC within the United States will be immediately terminated, and no further actions may be taken to develop or implement them.

    “The Secretary of the Treasury is directed to immediately revoke the Department of the Treasury’s “Framework for International Engagement on Digital Assets,” issued on July 7, 2022,” Trump says.

    “All policies, directives, and guidance issued pursuant to Executive Order 14067 and the Department of the Treasury’s Framework for International Engagement on Digital Assets are hereby rescinded or shall be rescinded by the Secretary of the Treasury, as appropriate, to the extent they are inconsistent with the provisions of this order.”

    Working Group on Digital Asset

    Trump has also established the President‘s Working Group on Digital Asset Markets. Within 180 days of the date of this order, the Working Group will submit a report to Trump, which will recommend regulatory and legislative proposals that advance the policies established in this order.

    It will propose a regulatory framework governing the issuance and operation of “digital assets”, including stablecoins, in the United States. It will also consider provisions for market structure, oversight, consumer protection, and risk management.

    Trump before the elections had promised to set up a “Bitcoin Reserve” worth $20 billion. In the order, the working group has been tasked to “evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the US government through its law enforcement efforts.”

    Besides, Trump’s executive order also explains “digital assets”, which from now on refer to any digital representation of value that is recorded on a distributed ledger, including cryptocurrencies, digital tokens, and stablecoins.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    France arrests five over cryptocurrency kidnapping

    Cryptocurrency

    SEC-Davao monitoring 4 entities allegedly involved in cryptocurrency scams

    Cryptocurrency

    Russia Developing Cross-Border Digital Payment with BRICS

    Cryptocurrency

    Regal Investments Commits $30 Million to Cryptocurrency Prop Trading Initiative

    Cryptocurrency

    Banks must build trust to thrive in digital age 

    Cryptocurrency

    Digital Pound? Bailey’s Right to Be Wary

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    7 Most Profitable Cryptocurrency Stocks To Invest In

    Fintech

    Avec MiCA, l’Europe devient plus attractive que les États-Unis pour les entreprises cryptos

    Investments

    Kevin Durant devient actionnaire minoritaire du Paris Saint-Germain

    Editors Picks

    Bitcoin’s price volatility: navigating trends and influences in the cryptocurrency market

    July 16, 2024

    Best Handheld Metal Gear Games

    July 29, 2024

    Tula Technology nomme John Fuerst au poste de président-directeur général

    February 20, 2025

    FIP Silver Las Palmas – Campagnolo et Gala trop forts pour Leygue et Gil

    May 3, 2025
    What's Hot

    Cryptocurrency Millionaire Joins Mpeppe & Bitstarz To Triple Profits

    August 20, 2024

    The Philadelphia Fed’s Fintech Conference

    October 22, 2024

    UK property yields little cheer for landlords

    February 8, 2025
    Our Picks

    Celta : le Real assure l’essentiel face au Celta avec un Mbappé retrouvé, le résumé

    May 4, 2025

    Dijon. Animalize, la nouvelle vague du heavy metal français

    May 10, 2025

    RailTel Dividend 2025: PSU stock to trade ex-date tomorrow – Check interim dividend amount, record date and other detail

    April 1, 2025
    Weekly Top

    La première place pour les électriques à l’EcoGreen Energy 2025

    June 21, 2025

    Gold Cup | Le onze probable du Canada

    June 21, 2025

    Here Are My Top 3 High-Yield Energy Dividend Stocks to Buy Now

    June 21, 2025
    Editor's Pick

    Judge Gordon Vincent announces retirement

    October 24, 2024

    l’âge d’or des fintechs du financement BtoB

    April 22, 2025

    iShares U.S. Utilities ETF (NYSEARCA:IDU) Holdings Boosted by Steward Partners Investment Advisory LLC

    March 11, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

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