Crypto executive order establishes a digital assets working group to recommend regulatory changes and advise on a digital asset stockpile, prohibits the development of a central bank digital currency (CBDC), and revokes Biden's crypto EO.
whitehouse.gov/presidential-ac…
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Strengthening American Leadership in Digital Financial Technology – The White House
By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to promote United StatesThe White House
Molly White
Als Antwort auf Molly White • • •My immediate thoughts: this is mostly symbolic. The revocation of the previous EO doesn't do much (because the prev EO didn't do much), and although a lot of people have blustered about banning the creation of a CBDC, no US entity ever really pursued creating one.
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Molly White
Als Antwort auf Molly White • • •Regarding the stockpile, I suspect bitcoiners are going to be upset that it is now a "digital asset" stockpile and not a bitcoin stockpile. Furthermore, echoes Trump's original idea of establishing such a stockpile by merely not selling off cryptos seized by law enforcement.
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Molly White
Als Antwort auf Molly White • • •The people who were most excited about a bitcoin stockpile were mostly looking at the proposals by RFK Jr., Sen. Lummis, etc. who had proposed going out and buying a bunch of BTC for a "strategic reserve" (thus pumping the BTC price), and this does not look like that.
The most meaningful portion of this will likely be the regulatory changes to come, though those were pretty clearly coming regardless of any EO.
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Molly White
Als Antwort auf Molly White • • •Pieter Lexis
Als Antwort auf Molly White • • •tylercheung
Als Antwort auf Molly White • • •Urzl
Als Antwort auf Molly White • • •Darryl Ramm
Als Antwort auf Molly White • • •Robert Cassidy
Als Antwort auf Molly White • • •8rent Poligofsky
Als Antwort auf Molly White • • •klausfiend
Als Antwort auf Molly White • • •quixote
Als Antwort auf Molly White • • •The essential element of crypto is having a greater fool to keep the price propped up.
Involving the US government in crypto is the techbros' pipe dream since it guarantees a fool with near-infinite funds. It coerces support from US taxpayers.
Dan Neuman 🇨🇦
Als Antwort auf Molly White • • •