The group will be chaired by David Sacks, the Special Advisor for AI and Crypto, and will include the Secretaries of Treasury, Commerce, and Homeland Security, the Attorney General, as well as the heads of the SEC and CFTC.
Within 180 days, the group is expected to provide recommendations to the president regarding regulatory and legislative changes concerning the issuance and circulation of digital assets, including stablecoins, in the United States.
The group will also assess the potential for creating and maintaining a national digital asset stockpile. One of its tasks is to propose criteria for forming this reserve from cryptocurrencies seized by the government.
The order prohibits the issuance and promotion of central bank digital currencies (CBDCs) in the U.S., mandating that government agencies cease all related programs and initiatives.
In an interview with FOX Business, Sacks emphasized that the group's goal is to encourage innovation in cryptocurrency rather than push the industry overseas. He noted that clarity in regulation is essential for the sector, which has been lacking under Joe Biden's administration.
Regarding the national crypto reserve, Sacks clarified that no decision has yet been made on its creation.
“Yes, we are going to evaluate it. We haven't decided to do it yet. We need to study that,” she said.
The order disappointed Bitcoin maximalists
Some supporters of the first cryptocurrency were disappointed that it is not mentioned directly at all in the document.
Commentators recalled Trump's promise to establish a strategic Bitcoin reserve; however, the term "digital assets" used in the order suggests the possibility of including altcoins in the fund.
Investor "Bitcoin Dad" stated that "the strategic "digital asset" stockpile should ONLY include Bitcoin."
Vice President of Riot Platforms Pierre Rochard also believes that Trump clearly articulated his goals in his campaign speeches:
- Prohibit CBDCs;
- Create a reserve in the first cryptocurrency.
Dennis Porter, CEO of Satoshi Action Fund, defended the terminology used in the order as a pragmatic decision that is "technologically neutral" and reduces political friction.
His organization promotes Bitcoin in U.S. political and business circles using a similar approach.
According to Arkham Intelligence, the U.S. government holds confiscated cryptocurrencies worth approximately $21.2 billion, with a dominant share consisting of 198,109 BTC valued at $20.76 billion.
Mark Yusko, CEO of Morgan Creek, suggested that other assets like XRP, ADA, and HBAR could also be included in the national reserve alongside Bitcoin.
