Michaela Alvez
U.S. President Donald Trump has signed an Executive Order directing his administration to assess the possibility of creating a “national digital asset stockpile.” This is alongside the formation of the new Presidential Working Group on Digital Asset Markets.
The Executive Order seeks to establish federal regulations for digital assets, including stablecoins, but stops short of immediately creating a strategic Bitcoin reserve.
Additionally, the Executive Order suggests that the national digital asset stockpile could be formed from cryptocurrency assets legally seized by the federal government during law enforcement operations.
Source: The White House website
Arkham Intel data reveals that the U.S. government currently holds nearly $21 billion in seized digital assets, including more than 198,000 BTC. These assets could potentially be repurposed or transferred to help establish the proposed digital asset stockpile.
The Executive Order also explicitly prohibits federal agencies from promoting or creating central bank digital currencies (CBDCs), effectively reversing policies from the previous administration regarding digital assets.
Bitcoin Reserve Hesitations?
Despite extensive discussions and President Trump’s endorsement of a strategic Bitcoin reserve during his campaign, there are notable apprehensions and hesitations about its potential implementation.
Fox Business journalist Eleanor Terrett reports that David Sacks, the White House Crypto and AI Czar appointed by President Trump and chair of the Working Group, has stated that no decision has been made yet regarding the implementation of the digital asset stockpile.
“Yeah, we’re going to evaluate that. We have not decided to do it yet. We need to study that,” Sacks stated.
As chair, Sacks will collaborate with top industry experts in digital assets and markets to ensure that the Working Group’s actions are guided by insights and knowledge beyond the federal government.
Additionally, the Executive Order instructs various departments and agencies to identify and propose recommendations to the Working Group on any regulations or actions impacting the digital assets sector that may need to be amended or repealed.
Read More
- Trump’s Proposed Bitcoin Reserve Could Trigger a Global Race Among Nations – Metaplanet CEO
- US to Establish Strategic Bitcoin Reserve, Senator Confirms
- US Leaders Split on Bitcoin: Fed Rejects Reserves, Lummis Calls for Strategy
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
