President Donald Trump on Thursday signed a long-awaited executive order on cryptocurrency, handing the burgeoning industry a big political victory.
The order formally sets up a new working group consisting of top administration officials and financial regulators who will be tasked with recommending a federal framework for the trading of digital assets and studying “the potential creation and maintenance of a national digital asset stockpile,” according to the White House.
Dubbed the President’s Working Group on Digital Asset Markets, the group will include the Treasury secretary, the attorney general and the heads of the SEC and the CFTC. Its creation is the latest sign that the Trump administration is following through with its promise to create a friendlier Washington for the crypto industry, which came under heavy fire from former President Joe Biden’s regulators.
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