Trump Signs Executive Order Boosting Cryptocurrencies — WSJ
By Amrith RamkumarPresident Trump just signed an executive order intended to support the cryptocurrency industry, following through on a campaign promise to support a sector that helped him get elected.The order creates a "working group on digital asset markets" that will evaluate the creation of a cryptocurrency stockpile, a closely watched pledge that many in the industry hope would represent a government stamp of approval.The order stopped short of creating the stockpile, which could be a disappointment to some companies who had hoped for more definitive action in Trump's first week rather than studying proposals.Here's what else is in the wide-ranging order:It directs government agencies to make it easier for companies in the industry to get bank accounts and prohibits central bank digital currencies, reversing a 2022 Biden administration executive order.It orders the working group to do a report on regulatory and legislative proposals for stablecoin and market structure, two areas that are also priorities in Congress.It asks several agencies to recommend modifications to existing crypto policies within two months.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).