Order establishes Working Group to analyze the creation of a national reserve of digital assets
The President of the United States, (Republican), signed this Thursday (22 January 2025) a decree that prohibits the creation of digital currencies by the Fed (Federal Reserve, the US central bank). The measure prevents direct competition with existing cryptocurrencies.
The measure establishes a working group tasked with proposing new regulations for cryptocurrencies and analyzing the creation of a national reserve of digital assets. The decree also determines the protection of banking services for companies in the sector. Here is the full decree in (PDF – 160 kB) and in (PDF – 66 kB).
The group created will be led by former executive of who currently works in the field of cryptocurrencies and artificial intelligence, appointed by Trump. Among the members are the Secretary of the Treasury, the presidents of (Securities Commission) and the (Commodity Futures Trading Commission), as well as other federal agency leaders.
Duties include:
- the development of a regulatory framework for digital assets, including stablecoins (cryptocurrencies linked to the dollar);
- the evaluation of the creation of a national reserve of digital assets, potentially composed of cryptocurrencies seized in legal operations conducted by the government.
The document did not detail how this reserve would be structured, but analysts interviewed by Reuters indicate that it could be managed by the US Treasury’s Exchange Stabilization Fund.
TRUMP AND CRYPTOCURRENCIES
During the presidential campaign, Trump said he would be a “president of cryptocurrencies”.
On Friday night (17 January), the Republican launched his own cryptocurrency, the which, in less than 24 hours, recorded an appreciation of more than 350%, reaching US$30 per unit and a market capitalization of more than US$5 billion (around R$34 billion).
The token was developed by the blockchain platform which limited supply to an initial 200 million units, with plans to expand the total to 1 billion over the next 3 years.
First Lady Melania Trump a memecoin called $MELANIA.
