U.S. President Donald Trump signed an executive order on Jan. 23 that supports the digital assets industry and includes steps toward a strategic crypto reserve.
The order establishes a working group led by eleven U.S. government officials plus the White House’s Special Advisor for AI and Crypto or “Crypto Czar.” That role is held by David Sacks, an entrepreneur and venture capitalist.
The working group will examine the potential creation of a digital asset stockpile. Previous efforts from Republican lawmakers specifically aimed to stockpile Bitcoin (BTC). The latest executive order does not mention a specific crypto. However, the order does state that the stockpile could be drawn from past U.S. government crypto seizures — an amount that likely consists primarily of Bitcoin.
Whether to create that stockpile is just part of a broader report that the working group will submit to President Trump within 180 days of the order.
The report will also propose a broader regulatory framework concerning the issuance and operation of digital assets, covering issues such as market structure, oversight, consumer protection, and risk management.
Order Includes Broader Policy
The new executive order also lays out Trump’s broader policy stance, including his promise to make the U.S. the “crypto capital of the planet” while halting aggressive enforcement actions and regulatory overreach.
The policy explicitly aims to ensure that individual crypto users and crypto companies can continue to use blockchain networks, including through transactions, self-custody of crypto, crypto mining, and software development.
It additionally aims to protect U.S. dollar-backed stablecoins while barring the creation of a government-controlled central bank digital currency (or CBDC).
Furthermore, the policy aims to ensure that banking services are available to individuals and companies. Reuters suggested that this promise may be tied to allegations that U.S regulators ordered direct lenders to block service to crypto companies. Regulators denied those claims in the relevant legal case.
Trump’s latest order also revokes the Biden administration’s 2022 executive order on crypto and a related U.S. Treasury framework. Though the Biden order claimed to pursue responsible development around digital assets, the Trump administration’s latest announcement claimed that it “suppressed innovation and undermined U.S. economic liberty and global leadership in digital finance.”
Individual government agencies are also shifting their crypto policy. Days ago, the U.S. Securities and Exchange Commission (SEC) announced a task force to reduce strict enforcement and start offering crypto companies a clear path to registration. SEC Commissioner Hester Peirce will lead the SEC’s own task force, while the SEC Chair will have a role in the Presidential crypto work group.
