US President Donald Trump signed an executive order aimed at easing banking challenges for Web3 companies and creating clearer regulations for digital assets. The order formed a digital asset markets working group responsible for promoting US leadership in crypto and considering a national digital assets stockpile. Notably, it excludes the US Federal Reserve and the Federal Deposit Insurance Corporation from the working groups, which some believe may end efforts to debank the crypto industry. Caitlin Long, Founder and CEO of Custodia Bank, remarked on the exclusion's significance following alleged debanking under the Biden administration, which affected over 30 crypto firms. The order also indicates that future US stablecoin legislation will not involve the central bank, putting Treasury Secretary Scott Bessent in charge. Additionally, the SEC recently rescinded a rule requiring firms to record customer-held crypto as liabilities, which many in the industry viewed positively as a means to improve the custody of digital assets by banks.

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