What’s in the encryption executive order signed by Trump?

Author: BitpushNews

On the afternoon of January 23, 2025, Eastern Time, US President Trump officially signed an executive order on cryptocurrency, aiming to fulfill his campaign promise of becoming the "Cryptocurrency President."

According to Fox News, the details of the encryption executive order are as follows:

The executive order establishes the President’s Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance.

The task force is tasked with developing a federal regulatory framework for managing digital assets, including stablecoins, and evaluating the establishment of a strategic national digital asset reserve.

The working group will be chaired by White House AI and cryptocurrency czar David Sacks, and will include the Treasury Secretary, the Chairman of the Securities and Exchange Commission, and the heads of other relevant departments and agencies.

The White House AI and cryptocurrency czar will hire top experts on digital assets and digital markets to ensure the task force’s actions are guided by experts outside the federal government.

The executive order directs departments and agencies to identify and make recommendations to the task force on any regulations and other agency actions that should be withdrawn or modified that affect the digital asset sector.

The executive order prohibits agencies from taking any action to establish, issue or promote a central bank digital currency (CBDC).

The executive order revokes the previous administration’s Digital Assets Executive Order and the Treasury Department’s Digital Assets International Engagement Framework, which have stifled innovation and undermined U.S. economic freedom and global leadership in digital finance.

Than bolus:

Presidential executive orders are an important tool for the US president to exercise executive power, and they play an important role in shaping US domestic and foreign policies. However, the power of executive orders is limited and is restricted by the Constitution, Congress and the courts.

Executive orders are not laws: Although executive orders have the force of law, their status is lower than law.

Executive orders have limited validity: The next president can modify or repeal the previous president's executive orders.

Administrative orders may cause controversy: Administrative orders often involve complex political and social issues and are therefore prone to controversy.