{"id":20607,"date":"2025-01-24T11:43:21","date_gmt":"2025-01-24T09:43:21","guid":{"rendered":"https:\/\/forklog.com\/en\/white-house-working-group-to-assess-a-national-crypto-reserve\/"},"modified":"2025-01-24T11:43:21","modified_gmt":"2025-01-24T09:43:21","slug":"white-house-working-group-to-assess-a-national-crypto-reserve","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/white-house-working-group-to-assess-a-national-crypto-reserve\/","title":{"rendered":"White House working group to assess a national crypto reserve"},"content":{"rendered":"<p>US president Donald Trump signed an executive order establishing a working group on digital-asset markets. The body will be led by the special adviser on AI and cryptocurrencies, <a href=\"https:\/\/u1f987.com\/en\/news\/trump-nominates-david-sacks-as-crypto-czar\">David Sacks<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">?NEW: Here\u2019s the official <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> EO text from the <a href=\"https:\/\/twitter.com\/WhiteHouse?ref_src=twsrc%5Etfw\">@WhiteHouse<\/a> website. ??<a href=\"https:\/\/t.co\/59XVrJtsRa\">https:\/\/t.co\/59XVrJtsRa<\/a> <a href=\"https:\/\/t.co\/ZZkFMPgkTD\">https:\/\/t.co\/ZZkFMPgkTD<\/a> <a href=\"https:\/\/t.co\/Z27s8a6Pnr\">pic.twitter.com\/Z27s8a6Pnr<\/a><\/p>\n<p>\u2014 Eleanor Terrett (@EleanorTerrett) <a href=\"https:\/\/twitter.com\/EleanorTerrett\/status\/1882531818936897969?ref_src=twsrc%5Etfw\">January 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Among others, the group will include the secretaries of the Treasury, Commerce and Homeland Security, the attorney-general, and the chairs of the <span data-descr=\"US Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> and <span data-descr=\"US Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span>.<\/p>\n<p>Within 180 days, the body must present the president with recommendations for regulatory and legislative changes governing \u201cthe issuance and circulation of digital assets, including stablecoins, in the United States.\u201d<\/p>\n<p>The group will also assess \u201cthe potential for creating and maintaining a national stockpile of digital assets.\u201d One task is to propose criteria for forming such a fund from cryptocurrencies seized by the government.<\/p>\n<p>The order bans the issuance and promotion of a CBDC in the United States. Government agencies must cease all related programmes and initiatives.<\/p>\n<p>In an <a href=\"https:\/\/www.foxbusiness.com\/politics\/trumps-ai-crypto-czar-david-sacks?intcmp=tw_fbn&#038;%3Fintcmp=tw_fbn\">\u0438\u043d\u0442\u0435\u0440\u0432\u044c\u044e<\/a> with FOX Business, Sacks said the group\u2019s aim is to encourage innovation and cryptocurrencies rather than drive the industry abroad. The sector, he said, primarily needs regulatory clarity, which it lacked under Joe Biden\u2019s administration.<\/p>\n<p>On the national crypto reserve, Sacks clarified that a decision to proceed has not yet been made.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">?NEW: <a href=\"https:\/\/twitter.com\/DavidSacks?ref_src=twsrc%5Etfw\">@davidsacks<\/a> tells <a href=\"https:\/\/twitter.com\/FoxBusiness?ref_src=twsrc%5Etfw\">@foxbusiness<\/a> they have not made a decision to go forward with the digital asset stockpile yet. <\/p>\n<p>\u201cYeah, we&#8217;re going to evaluate that. We have not decided to do it yet. We need to study that.\u201d<\/p>\n<p>\u2014 Eleanor Terrett (@EleanorTerrett) <a href=\"https:\/\/twitter.com\/EleanorTerrett\/status\/1882552661314265151?ref_src=twsrc%5Etfw\">January 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cYes, we are going to evaluate that. We have not decided to do it yet. We need to study it,\u201d he said.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">The order disappointed bitcoin maximalists<\/h2>\n<p>Some supporters of the first cryptocurrency were dismayed that it is not mentioned explicitly in the document.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The executive order does not mention &#8220;Bitcoin&#8221; once.<a href=\"https:\/\/t.co\/hQoU9vBeuK\">https:\/\/t.co\/hQoU9vBeuK<\/a><\/p>\n<p>\u2014 Peter McCormack ?\u200d\u2620\ufe0f???? (@PeterMcCormack) <a href=\"https:\/\/twitter.com\/PeterMcCormack\/status\/1882563444945375607?ref_src=twsrc%5Etfw\">January 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Commentators also pointed to Trump\u2019s pledge to create a strategic bitcoin reserve. The order, however, uses the term \u201cdigital assets\u201d, implying the fund could include altcoins.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The Strategic &#8220;Digital Asset&#8221; Stockpile should ONLY include Bitcoin.<\/p>\n<p>\u2014 Bitcoin Dad (@bitcoin_dad) <a href=\"https:\/\/twitter.com\/bitcoin_dad\/status\/1882538599243284707?ref_src=twsrc%5Etfw\">January 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe strategic digital-asset stockpile should include only bitcoin,\u201d said the investor known as Bitcoin Dad.<\/p>\n<\/blockquote>\n<p>Pierre Rochard, vice-president at Riot Platforms, also argued that Trump\u2019s campaign statements were unambiguous:<\/p>\n<ul class=\"wp-block-list\">\n<li>ban a CBDC;<\/li>\n<li>establish a reserve in bitcoin.<\/li>\n<\/ul>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/POTUS?ref_src=twsrc%5Etfw\">@POTUS<\/a> campaign had the core tenets of<br \/>(1) banning your CBDC technology<br \/>(2) a strategic BITCOIN stockpile<\/p>\n<p>There&#8217;s no ambiguity.<\/p>\n<p>\u2014 Pierre Rochard (@BitcoinPierre) <a href=\"https:\/\/twitter.com\/BitcoinPierre\/status\/1882524856245456976?ref_src=twsrc%5Etfw\">January 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBitcoin maximalists have real issues with the term \u2018digital assets\u2019,\u201d <a href=\"https:\/\/x.com\/Travis_Kling\/status\/1882537681219182612\">\u043d\u0430\u043f\u0438\u0441\u0430\u043b<\/a> <span data-descr=\"chief investment officer\" class=\"old_tooltip\">CIO<\/span> Ikigai Asset Management Travis Kling.<\/p>\n<\/blockquote>\n<p>Dennis Porter, CEO of Satoshi Action Fund, defended the wording used in the order. He called it pragmatic because the term is \u201ctechnologically neutral\u201d and \u201creduces political friction.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We fully endorse the working group for a \u2018Strategic Digital Asset Stockpile\u2019 drafted by <a href=\"https:\/\/twitter.com\/DavidSacks?ref_src=twsrc%5Etfw\">@DavidSacks<\/a> and <a href=\"https:\/\/twitter.com\/BoHines?ref_src=twsrc%5Etfw\">@BoHines<\/a>. <\/p>\n<p>I am Bitcoin only, but it is pragmatic for the working group to use the word \u201cdigital asset\u201d for the exact same reason that <a href=\"https:\/\/twitter.com\/SatoshiActFund?ref_src=twsrc%5Etfw\">@SatoshiActFund<\/a> has utilized this\u2026<\/p>\n<p>\u2014 Dennis Porter (@Dennis_Porter_) <a href=\"https:\/\/twitter.com\/Dennis_Porter_\/status\/1882552817053057047?ref_src=twsrc%5Etfw\">January 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He noted that his organisation, which promotes bitcoin in US political and business circles, also regularly takes a similar approach.<\/p>\n<p>According to <a href=\"https:\/\/intel.arkm.com\/explorer\/entity\/usg\">Arkham Intelligence<\/a>, the US government holds roughly $21.2bn in seized cryptocurrencies. The dominant share is 198,109 BTC worth $20.76bn.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/U.S.-Government-Google-Chrome.webp\" alt=\"U.S.-Government-Google-Chrome\" class=\"wp-image-250318\"\/><figcaption class=\"wp-element-caption\">Data: Arkham Intelligence.<\/figcaption><\/figure>\n<p>Earlier, Morgan Creek CEO Mark Yusko <a href=\"https:\/\/u1f987.com\/en\/news\/morgan-creek-ceo-discusses-potential-xrp-integration-into-us-banking-system\">suggested<\/a> that, alongside bitcoin, the US national reserve could include other assets such as XRP, ADA and HBAR.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US president Donald Trump signed an executive order establishing a working group on digital-asset markets. The body will be led by the special adviser on AI and cryptocurrencies, David Sacks. ?NEW: Here\u2019s the official #crypto EO text from the @WhiteHouse website. ??https:\/\/t.co\/59XVrJtsRa https:\/\/t.co\/ZZkFMPgkTD pic.twitter.com\/Z27s8a6Pnr \u2014 Eleanor Terrett (@EleanorTerrett) January 23, 2025 Among others, the group [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1641,991,36,26],"class_list":["post-20607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-reserves","tag-donald-trump","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"37","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=20607"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/20606"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=20607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=20607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=20607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}