This development is a big news for the crypto and digital asset industry. Donald Trump’s executive order to create a CBDC (Central Bank Digital Currency) has laid the foundation for a new digital ecosystem in the US. The focus of this decision is to promote private sector-driven digital assets and stablecoins, which aims to create a decentralized and innovation-friendly environment.
What does Trump’s order mean?
CBDC Ban: Calling CBDCs a risk, Trump has called them a threat to privacy, sovereignty and financial stability. Agencies have been stopped from CBDC development, until they come under the law.
Emphasis on Stablecoins: Trump has emphasized dollar-backed stablecoins as an alternative solution to encourage the private sector.
Crypto-Friendly Policy: The Trump administration wants to develop a federal regulatory framework that will address the market structure, oversight, and consumer protection of crypto and stablecoins.
National Bitcoin Reserve: Trump’s crypto-friendly initiatives also expect a national bitcoin reserve and advisory council that will help make the US a global hub of crypto innovation.
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