Trump Creates Digital Asset Stockpile By Executive Order

President Trump has signed an official executive order to create a “national digital asset stockpile.” This seems meaningfully distinct from a Bitcoin Reserve, which would likely require Congressional approval.

A Crypto National Reserve

The growing movement to create a US Bitcoin Reserve has attracted broad support in Congress and several similar proposals throughout US states. However, President Trump has gone on a spree of signing various executive orders this week, and this mechanism may allow his stockpile to pass without this scrutiny.

At the same time, Trump also signed an executive order to create a “Cryptocurrency Working Group.” The role, official designation, and potential impact of this group all seem totally unclear at the moment. Earlier this morning, Cynthia Lummis was appointed the Chair of the Senate Banking Subcommittee on Digital Assets, which may overlap with this group.

Allegedly, the working group will take on an advisory role to various government agencies, working to develop a comprehensive digital framework. It will cooperate with Crypto Czar David Sacks and other pro-industry appointees in Trump’s White House, but it will be strictly forbidden from working on a US CBDC.

Ultimately, several members of the community have expressed frustration with the vague nature of these executive orders. It is presently unclear whether this stockpile will contain mostly Bitcoin or other assets like his new TRUMP meme coin. In any event, without Congressional approval, this “stockpile” will probably not amount to a true National Reserve.

The post Trump Creates Digital Asset Stockpile By Executive Order appeared first on BeInCrypto.