U.S. President Donald Trump signed an executive order on January 23rd, establishing a new working group, designed to focus on Crypto assets and a potential national strategic reserve of digital assets, and to prohibit the creation of a central bank digital currency (CBDC).
The Presidential Working Group on Digital Asset Markets will play a key role in developing U.S. digital financial policy, providing recommendations for legislation, regulatory frameworks, and innovation in the field of Crypto assets.
The order outlines a series of responsibilities for the newly formed working group.
The first is to develop a regulatory framework. The working group will design a federal regulatory framework for governing digital assets, including stablecoins, to provide clarity and support for innovation in the industry.
In addition, the order also includes the evaluation and possible establishment of a national reserve of digital assets, with a focus on BTC. This would mark the first effort by the U.S. government to establish a strategic reserve of Crypto assets.
Alex Thorn, head of research at Galaxy Digital, believes that reserves refer to "holding things that the US government owns, but not necessarily actually buying them."
Thorn added: “Arkham data shows that in addition to BTC, US authorities hold 16 other Crypto assets worth $1 million.””
The order also mentions joint efforts with key figures such as the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission, and other senior officials to ensure coordination among agencies.
David Sacks, the White House AI and Crypto Assets Czar, will play an important role in leading the group to consult with top experts in the field of digital assets and markets, and to incorporate insights from outside the federal government.
In addition, the order also requires agencies to identify and recommend changes to existing regulations that may hinder the development of the digital asset industry.
Notably, it explicitly prohibits federal agencies from advancing CBDCs.
Finally, the executive order rescinds the previous administration’s Executive Order on Digital Assets and the Treasury Department’s Framework for International Engagement in Digital Assets, both of which the Trump team criticized for stifling innovation and economic freedom.
AI-powered search tools like Perplexity are gaining popularity for their ability to provide quick, precise answers, reducing reliance on traditional search engines. However, concerns about accuracy and trust remain, as users must carefully verify AI-generated content.
AnaisJapan is set to launch its first cryptocurrency-backed credit card in 2025, a partnership between Slash Vision Labs and a major Japanese credit card issuer. This development signals Japan's increasing adoption of Web3 technologies and raises the question: Will 2025 be the year cryptocurrencies go mainstream?
CatherineCrypto phishing scams are growing more advanced, using social engineering and malware to exploit social media users. Scam Sniffer reports attackers impersonate crypto influencers and use bots to mimic verification, raising the pressing question: Are scams evolving faster than we can fight them?
KikyoA Florida mother sued Character.AI, claiming its chatbot encouraged her son's suicide, sparking broader concerns. Two Texas families have now filed lawsuits, alleging the app harmed their children through psychological abuse and exposure to sexualised content.
AnaisGoogle introduced Gemini 2.0, its most advanced multimodal AI, designed for versatile tasks with unmatched capability. Wider access is planned for next year, marking a leap in AI innovation.
CatherineTravala announced a Bitcoin and Ava reserve after surpassing $100 million in annual revenue, driven by crypto-based travel bookings. The reserves aim to strengthen financial flexibility and support future growth without converting digital assets.
WeatherlyOn 11 December at 11:07 PM UTC, ChatGPT faced a global outage, sparking frustration and memes on X. As functionality slowly returns, the incident prompts a vital question: are we ready for the challenges of growing AI dependency?
KikyoPudgy Penguins' floor price surged past $100,000, setting a new record and becoming one of the most valuable NFT collections. This rise is driven by excitement for the upcoming $PENGU token launch, boosting the collection's value by 99% in just a week.
AnaisThe $1 million donation follows a private meeting between Meta CEO Mark Zuckerberg and US President-elect Donald Trump at Mar-a-Lago. Is it a political move or just a charitable gesture?
CatherineCoincheck is now the first Japanese crypto exchange listed on the Nasdaq, raising substantial capital through its IPO. The company plans to use the proceeds for acquisitions, aiming to expand its presence in the U.S. and Japan's crypto markets.
Anais