The president of the USA, Donald Trump, signed on January 23 an govt order to help the expansion and promotion of the stablecoins backed by the US greenback, cryptocurrencies and different monetary property.
As Cryptonoticia has reported, That is the primary pro-written order within the historical past of the USA.
Among the many most outgoing factors of the doc, the initiative to “promote and shield the sovereignty of the USA greenback, even by means of actions to advertise the event and development of Stablcoins backed by authorized and legit {dollars} worldwide” is highlighted.
The purpose is to advertise the worldwide sovereignty of the greenback and promote its adoption as the premise for the event of those applied sciences.
On this means, President Trump meets his marketing campaign promise to determine clear and impartial laws to advertise the expansion of the cryptocurrency business and stablecoins equivalent to USDT, USDC or Ripple Labs RLUSD.
At one other level, it’s clarified that Measures will likely be taken to guard privateness and financial system in opposition to digital currencies issued by central banks (CBDC)which “threaten the steadiness of the monetary system, particular person privateness and sovereignty of the USA”, together with the prohibition of “institution, issuance, circulation and use of a CBDC inside the jurisdiction of that nation.
In flip, the creation of the president’s working group on digital property markets is established, chargeable for reviewing laws, steering paperwork, orders and different parts that have an effect on the digital asset sector. The companies that make up this group should consider the laws associated to Stablecoins, Bitcoin (BTC) and different cryptocurrencies, with a purpose to suggest modifications or eliminations when mandatory.
This working group will likely be answerable for Consider the creation of a Nationwide Digital Belongings Reservewhich may embody cryptocurrencies legally seized by the federal authorities.
On this means, Trump takes step one to advertise the usage of stablecoins backed by the greenbackwith regulatory high quality and privateness safety.
(Tagstotranslate) cryptocurrencies
