Donald Trump Signs Executive Order for Bitcoin Reserve

Bittime - On January 23, 2025, President Donald Trump signed an executive order establishing the US Bitcoin Reserve. This also confirms the total ban on Central Bank Digital Currencies (CBDC).

Trump was accompanied by David Sacks, White House Crypto Czar, who carried the order document. Read this article to find out more!  

Executive Order for Bitcoin Reserve

This executive order for Bitcoin Reserve highlights the importance of protecting citizens' rights to use open blockchain networks without the threat of censorship. 

Additionally, the private sector is given the freedom to build, mine, and transact on this network.

Trump also emphasized the importance of developing US dollar-backed stablecoins as a tool to strengthen the sovereignty of the US currency in global markets. 

Read Also: 3 Crypto Narratives to Pay Attention to This January 

Establish Bitcoin Reserve, Trump Rejects CBDC

Through this Bitcoin Reserve, Trump took a firm stance against CBDCs which he considered a threat to individual privacy and financial stability. 

This executive order prohibits federal agencies from creating or circulating any form of CBDC in the United States. Trump firmly said that plans related to CBDC development must be stopped completely.

Executive Order: Creating Neutral Regulations for Technology

As part of the executive order for the Bitcoin reserve, federal agencies were directed to create technology-neutral regulations. 

It aims to provide a framework that is transparent and supports innovation while minimizing risk.

The government also formed a new task force called President’s Working Group on Digital Asset Markets. This task force was led by David Sacks and included top officials from various agencies such as the Treasury Department, SEC, and CFTC.

Read Also: Why Crypto is Down Today: Fear and Greed Index Factor and Sentiment Analysis 

Executive Order: Establishing a Task Force

Within 30 days, the task force created through an executive order for Bitcoin Reserve was asked to identify all regulations affecting the digital asset sector. 

Next, within 60 days, the task force must provide recommendations regarding rules that need to be updated, repealed, or replaced to fit the Trump administration's new vision.

Additionally, within 180 days, the task force will submit a detailed report covering federal oversight of stablecoins, market structure, consumer protection, and risk management.

Donald Trump: Focus on Public Input

Trump also emphasized the importance of input from blockchain experts, industry leaders and other stakeholders. With this, the resulting policies are expected to be in line with the needs of the crypto community.

Executive order to establish this Bitcoin Reserve confirms Donald Trump's position as a leader who drives crypto innovation. 

With policies supporting Bitcoin and stablecoins, and rejecting CBDCs, Trump strengthened the US position in the global digital economy.

Read Also: Crypto ETFs 2025: Crypto Assets That Have the Potential to Be Approved by Regulators 

Bitcoin FAQs

What are Bitcoins?

Bitcoin is the world's first crypto asset and the largest crypto asset by market capitalization. Bitcoin was first created in 2009 by Satoshi Nakamoto, whose true identity until now no one knows.

How many Rupiah is 1 BTC?

Currently, 1 BTC is worth IDR 1,705,213,006 based on the Bittime market. 

1 BTC How Much USD?

Currently, 1 BTC is worth $105,101.72 according to Coinmarketcap. 

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Reference

Cryptopolitan, President Trump signs an executive order for a national Bitcoin strategic reserve, accessed January 24, 2025.

Coinmarketcap, Coinmarketcap Bitcoin Currency, accessed January 24, 2025.

Author: IPR