Donald Trump forms internal committee in a bid to 'make America the world capital

Published: 2025-01-24 11:46:12 am

On January 24, 2025, President Donald Trump announced the formation of an internal committee aimed at enhancing America's leadership in the cryptocurrency sector. This initiative seeks to develop a federal regulatory framework for digital assets, including stablecoins, while prohibiting the development of central bank digital currencies (CBDCs) and eliminating unnecessary regulations. 

The committee will be chaired by White House Artificial Intelligence and Crypto Czar David Sacks. It will include key figures such as the Treasury Secretary and the Chairman of the Securities and Exchange Commission (SEC). Their mandate includes evaluating the creation of a strategic national digital assets stockpile. 

This executive order also revokes previous directives, including the Digital Assets Executive Order and the Treasury Department's Framework for International Engagement on Cryptocurrency, which the current administration believes hindered innovation and undermined U.S. leadership in digital finance. Additionally, it prohibits federal agencies from establishing, issuing, or promoting CBDCs. 

The administration emphasizes that this move is designed to foster innovation by removing unnecessary governmental interference and restrictive regulations, thereby positioning the United States as a global leader in the cryptocurrency arena.

Source  >> timesofindia.indiatimes

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