President Trump published a decree to make cryptography a national priority.
Thursday, President Trump signed a new decree entitled “Strengthening American leadership in digital financial technology” which supports the growth of the digital asset sector in the United States. While the cryptography industry has become one of the greatest donors of its campaign after having felt besieged and attacked by the regulations of the Biden administration, the decree is proof that Trump follows a declaration made During the campaign to make America the “capital of cryptography of the country”. planet.”
Key political measures included the protection and promotion of citizens’ ability to use digital assets and develop underlying blockchain technology without persecution, the protection of sovereignty of the US dollar by supporting the growth of stable parts backed by dollar worldwide and the protection of citizens against the dangers of a central system. banking digital currency.
The decree rejected what industry considered an attack on its ability to do business in the United States by the previous administration following “the ChokePoint 2.0 operation”. This concept was largely highlighted by the cryptography entrepreneur Nic Carter, founding partner of Castle Island Ventures, who argued that there was a deliberate attempt on the part of American regulators to “withdraw banks” from individuals and Entities working in the field of cryptocurrency and preventing banks from providing cryptography services.
Trump also called for the creation of the president’s “working group of digital asset markets” to assess the regulations of American agencies which have an impact on the digital asset sector. Previously appointed TSAR of artificial intelligence and cryptography at the White House, David Sacks was appointed to chair the working group, which is integrated into the national economic council. This working group will aim to establish clear and transparent regulations for digital assets, with a particular emphasis on the Ministry of the Treasury, the Ministry of Justice and the Securities and Exchange Commission.
The working group would also study the potential creation and maintenance of a “national stock of digital assets”. This concept would potentially consist of creating such a stock from cryptocurrencies legally seized by the United States government thanks to the efforts to apply the law. Before that, there was the very discreet possibility of a decree creating a “Bitcoin Strategic Reserve” similar to what senator Cynthia Lummis (R-Wyo.) Proposed in her Bitcoin law. However, information that Trump may want to consider a mixture of “made in the United States” cryptocurrencies could have led to a decision to delegate this effort to the working group.
Although it is not a decree signed on the first day of the Trump administration, the fact that he was signed during his first week of mandate sends a strong signal which raises the cryptography policy to National importance and creates a path allowing digital assets to prosper and develop. in the United States.
