President Donald Trump signed an executive order Thursday prohibiting federal agencies from establishing, issuing or promoting central bank digital currencies.

The executive order also establishes the Presidential Working Group on Digital Asset Markets, which is tasked with developing a comprehensive federal regulatory approach for digital assets, creating guidelines for stablecoins and exploring the potential establishment of a national strategic digital asset reserve. AI and Crypto Czar David Sacks will chair the group, and it will include leaders from the Treasury Department, Securities and Exchange Commission and other relevant agencies.

🚨 NOW: Donald Trump signs an executive order to help make “America the world the capital of crypto.” pic.twitter.com/UELJCDvGeb

— Cointelegraph (@Cointelegraph) January 23, 2025

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….

— Donald J. Trump (@realDonaldTrump) July 12, 2019