Trump's Crypto Vision: Making America the Capital

US President Donald Trump has signed an executive order to form a working group on cryptocurrency, aiming to make America the crypto capital of the world. The order prohibits establishing central bank digital currencies and emphasizes innovation, while modifying existing regulations to ensure economic liberty in digital finance.

President Donald Trump has initiated an executive order forming a specialized working group on cryptocurrency, envisioning the United States as the global cryptocurrency hub. This directive constrains the establishment of central bank digital currencies.

Largely led by the White House's AI and Crypto Czar, David Sacks, the team will devise federal regulations for digital assets, including stablecoins, and consider creating a national digital assets reserve.

The executive order aims to accelerate crypto innovation by curbing previous restrictive policies and promoting economic freedom, underscoring Trump's commitment to digital financial technology growth.

(With inputs from agencies.)