President Donald Trump throws his support for the creation of a Federal Reserve of cryptocurrency and initially shows XRP, Solana and Cardano for recording and later added Bitcoin and Ethereum.
Trump published one in January Executive order Request the formation of a working group that would do this Study and make recommendations on cryptopoliticsIncluding “the potential creation and maintenance of a national digital wealth value.”
The working group should “propose criteria for the establishment of such a supply”, which “could possibly be derived from cryptocurrencies that the Federal Government had legally confiscated by its law enforcement efforts”.
In a contribution On Sunday morning, Trump seemed to go on in his social social network Truth Social, which made it clear that he wants to see that the reserve becomes reality.
“A US crypto reserve will increase this critical industry after years of corrupt attacks by the Biden Administration, which is why my executive regulation in relation to digital assets has instructed the working group of the president to find a crypto strategic reserve that includes XRP, SOL and ADA,” wrote Trump. “I will make sure that the USA is the crypto capital of the world.”
At the time of publication, the prices of all three cryptocurrencies mentioned in Trump’s post rose by 20% or more. Then he wrote in a follow-up post“And obviously BTC and ETH, like other valuable cryptocurrencies, will be the heart of the reserve. I also love Bitcoin and Ethereum! “
As Trump recognized in his post, his executive order seemed to be aimed at the effects of the crypto regulation framework set up by former President Joe Biden.
As part of the Trump administration, the Securities and Exchange Commission has taken a friendly, deregulatory attitude towards the industry. reject his lawsuit Against Coinbase and explains that Memecoins are No securities. (The value of Trump’s own Trump coin has Boiled since his inauguration.))
Trump has also signed an executive order in which he is challenged The creation of a US sovereign assets fund That could be Used to buy Tiktok.
This post has been updated to reflect Trump’s follow-up message that Bitcoin and Ethereum mentioned.
