On January 23, 2025, President Donald Trump signed an executive order creating a working group focused on cryptocurrency. The initiative aims to explore federal regulations surrounding stablecoins and the potential development of a national digital asset stockpile. In a televised address, Trump highlighted his collaboration with David Sacks, identified as his ‘AI and crypto czar’. The order revokes a previous executive order from former President Joe Biden that sought to establish a regulatory framework for cryptocurrencies. It explicitly prohibits the establishment and use of a US central bank digital currency (CBDC), while instructing the new working group to study the creation and regulatory guidelines for stablecoins. This marks a significant shift in the US government's approach to cryptocurrency regulations under the new administration.

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