Trump said that the digital assets industry plays a decisive role in the US economic development and the country’s international leadership, therefore it supports the use of cryptocurrencies and blockchain technologies in all sectors of the economy.
In particular, Trump allowed citizens and subjects of the private sector to use open blockchains for legal purposes, develop and launch software, engage in mining and validation of blocks, as well as independently store digital assets.
In addition, Trump supported the development of stablecoins provided by the US dollar, as this should protect the sovereignty of the American state currency.
The presidential decree involves the introduction of regulatory clarity to regulate digital assets, blockchain technology and distributed register (DLT). For this, the USA will create a target group for working with digital assets, which will be headed by an adviser in artificial intelligence (AI) and cryptocurrencies.
The working group will also include ministers of finance, trade and internal security, Prosecutor General, Presidential Assistants on National Security, Economic Policy, Science and Technologies, as well as the chairmen of the US Securities and Exchange Commission (SEC) and the US trade futures trade commissions (CFTC).
Within 180 days from the date of the presidential decree, the working group is obliged to provide him with a report on the work done. It should think over legislative proposals regarding the regulation and use of digital assets in the United States, including stablecoins.
The report should also include recommendations on the protection of consumer rights and risk management. As necessary, the working group will conduct public discussions and involve leaders from the crypto space in discussions.
In addition, the target group should evaluate the possibility of creating a state reserve in digital assets and offer criteria for its formation. The state reserve may include cryptocurrencies legally seized by law enforcement agencies.
Particular attention in the presidential decree is paid to the digital currencies of the Central Bank. Trump banned the creation, release, introduction to the circulation and use of digital currencies of the Central Bank in the United States. The President explained that the CBDC threaten the stability of the financial system, the confidentiality of citizens and the sovereignty of the United States.
A few days ago, Donald Trump pardoned the founder of the Silk Road Darknnet Ross Ulbrict. Earlier, he was appointed two life -long periods for the creation and management of the “shadow” platform.
Source: Bits
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