US President Donald Trump has signed an government order to create a cryptocurrency working group tasked with proposing new digital asset laws and “evaluating the potential creation and upkeep of a nationwide digital asset stockpile.” Moreover, he has banned the creation of a central financial institution digital foreign money (CBDC) within the nation, which could compete with present cryptocurrencies.
The working group will embody the Treasury Secretary, the chairs of the Securities and Alternate Fee (SEC) and the Commodity Futures Buying and selling Fee (CFTC), together with different company heads. It’s going to additionally discover a regulatory framework for stablecoins, that are pegged to fiat currencies.
US Progresses In direction of Crypto Rules
With this newest order, President Trump has taken steps towards fulfilling his marketing campaign promise to overtake US cryptocurrency coverage promptly.
The manager order additionally mandates correct banking providers for cryptocurrency firms. Whereas there isn’t any official banking ban on cryptocurrency corporations, many trade members have reported being denied banking providers on a number of events.
A previous media report urged that the Trump administration may assign the CFTC as the first regulatory authority for cryptocurrencies within the US, successfully sidelining the SEC, which presently handles most enforcement actions in opposition to crypto firms.
🚨 NOW: Donald Trump indicators an government order to assist make “America the world the capital of crypto.” pic.twitter.com/UELJCDvGeb
— Cointelegraph (@Cointelegraph) January 23, 2025
Crypto Leaders Taking Over
Following President Trump’s assumption of workplace, the previous SEC and CFTC Chairs stepped down. They’ve been changed by interim leaders who’re perceived as extra crypto-friendly. Caroline Pham, the Performing CFTC Chair, even appointed a specialist to guide the company’s efforts on “crypto, decentralised finance (DeFi), and different digital property.”
Regardless of the rising adoption of cryptocurrencies within the US, the nation nonetheless lacks complete insurance policies and laws for the sector. Coinbase, a significant crypto trade, even filed a lawsuit in opposition to the SEC over the shortage of readability in its crypto insurance policies. With President Trump’s method, it appears the nation is shifting nearer to establishing a correct crypto regulatory framework.
Final 12 months, the European Union launched the Markets in Crypto-Property Regulation (MiCA), changing into the primary main jurisdiction to implement a complete crypto regulatory framework.
US President Donald Trump has signed an government order to create a cryptocurrency working group tasked with proposing new digital asset laws and “evaluating the potential creation and upkeep of a nationwide digital asset stockpile.” Moreover, he has banned the creation of a central financial institution digital foreign money (CBDC) within the nation, which could compete with present cryptocurrencies.
The working group will embody the Treasury Secretary, the chairs of the Securities and Alternate Fee (SEC) and the Commodity Futures Buying and selling Fee (CFTC), together with different company heads. It’s going to additionally discover a regulatory framework for stablecoins, that are pegged to fiat currencies.
US Progresses In direction of Crypto Rules
With this newest order, President Trump has taken steps towards fulfilling his marketing campaign promise to overtake US cryptocurrency coverage promptly.
The manager order additionally mandates correct banking providers for cryptocurrency firms. Whereas there isn’t any official banking ban on cryptocurrency corporations, many trade members have reported being denied banking providers on a number of events.
A previous media report urged that the Trump administration may assign the CFTC as the first regulatory authority for cryptocurrencies within the US, successfully sidelining the SEC, which presently handles most enforcement actions in opposition to crypto firms.
🚨 NOW: Donald Trump indicators an government order to assist make “America the world the capital of crypto.” pic.twitter.com/UELJCDvGeb
— Cointelegraph (@Cointelegraph) January 23, 2025
Crypto Leaders Taking Over
Following President Trump’s assumption of workplace, the previous SEC and CFTC Chairs stepped down. They’ve been changed by interim leaders who’re perceived as extra crypto-friendly. Caroline Pham, the Performing CFTC Chair, even appointed a specialist to guide the company’s efforts on “crypto, decentralised finance (DeFi), and different digital property.”
Regardless of the rising adoption of cryptocurrencies within the US, the nation nonetheless lacks complete insurance policies and laws for the sector. Coinbase, a significant crypto trade, even filed a lawsuit in opposition to the SEC over the shortage of readability in its crypto insurance policies. With President Trump’s method, it appears the nation is shifting nearer to establishing a correct crypto regulatory framework.
Final 12 months, the European Union launched the Markets in Crypto-Property Regulation (MiCA), changing into the primary main jurisdiction to implement a complete crypto regulatory framework.
