President Donald Trump has signed executive actions related to cryptocurrency and artificial intelligence that could strengthen two emerging industries.
White House AI and Crypto Czar David Sacks, venture capitalists and major political donors, joined the president.
The crypto order created a working group to advise on digital asset policy and will include participation of key federal agencies such as the Treasury, the Justice Department, the Securities and Exchange Commission, and the Commodity Futures Trading Commission.
The organization’s mandate is to submit reports to the president within about six months, recommending a regulatory framework and legislative proposal, including evaluating the creation of digital asset inventory.
“This definitely changes the fundamentals on the ground,” said Kara Calvert, vice president of U.S. policy at Coinbase Global Inc., the largest crypto exchange in the United States. “You have a chairman who embraces digital assets and set up a recognition of non-governmental professions.” The advisory committee for knowledge. That’s really exciting.”
Still, the order responds differently elsewhere in the cryptocurrency community. Bitcoin proponents have not pointed out that the largest cryptocurrency will become the center of the national reserve, which many people have speculated. Trump endorsed the idea during his campaign.
“What crypto Twitter wants is different from reality,” said Zaheer Ebtikar, founder of the crypto fund Split Capital. “If you think about it, even if it is purchased by the U.S. government, all other governments will follow and buy it. Evaluation Potential national digital asset inventory is as optimistic as real news.”
After the administrative lawsuit was disclosed, Bitcoin fell to $102,750 (about Rs 8.85 lakh). Since Trump’s election, the original digital currency has accounted for more than half of the market value of cryptocurrencies and has soared by more than 50%.
Sacks noted that the organization “makes the United States the global capital under your leadership” and he paid tribute to Trump.
He added that the AI action will allow the United States to “dominate AI and lead the world.”
“Did you find them excited? They probably aren’t, unless they’re going to make a lot of money for the country,” Trump said of the actions.
Trump’s order is a big step toward fulfilling his campaign promise to become an advocate for the emerging crypto industry. On the way, he vowed to simplify regulations, choose crypto-friendly numbers to oversee the industry, support the StableCoin framework and build Bitcoin inventory. He has made a good attitude to some of these commitments, such as choosing many crypto-friendly agent leaders.
He also pardoned Ross Ulbricht, who created the infamous website Silk Road, which uses Bitcoin to sell illegal drugs – a move that has been strongly supported by the cryptocurrency community .
The promises marked a turn for Trump, who expressed skepticism about digital assets a few years ago and then embraced the industry — pushing his own crypto projects and turning to executives and enthusiasts to support his campaign.
Last year, Trump released a collection of new unsensitivity tokens with his similarities and announced World Free Finance with his sons, an unlaunched project that promises people to make money and borrow Use cryptocurrency. Then, in January, Trump and his wife launched two meme coins that have already earned billions of dollars in market cap.
The executive order also marks a victory for an industry that has intensified political participation in the last election with substantial donations.
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