The New US President Donald Trump has signed the first executive order for the crypto sector: No to CBDCs, yes to Stablecoins and Bitcoin reserve.
The US aims for leadership in the crypto sector
The first executive order is based on several key points that outline the strategic vision of the United States for the future of the digital financial sector:
- Maximum openness towards the use and development of public and private blockchains.
- Promotion of the development and growth of Stablecoins, especially those related to the dollar that use government bonds as collateral, considered a crucial infrastructure for digital payments and trade.
- Regulatory clarity with neutral regulations: the importance of a clear and neutral regulatory framework that does not hinder innovation but at the same time protects consumers and the financial system is underlined.
- The establishment, issuance and circulation of CBDCs issued by central banks is prohibited, considered an obstacle that threatens the stability of the financial system, individual privacy and the sovereignty of the United States.
- Creation of a working group on the digital asset market that will be responsible for developing a comprehensive regulatory framework for the sector and evaluating the introduction of a strategic reserve in crypto-assets.
- Evaluation of a strategic reserve in Bitcoin and Crypto: no details are stated on this, initially suggesting the use of previously seized assets and perhaps, over time, purchases in Bitcoin.
And now, a little insight...
Why are Stablecoins important for the US?
Stablecoins offer the promise of faster, cheaper and more efficient digital transactions compared to traditional payment systems, especially when it comes to cross-border payments.
Furthermore, it is a way to promote and maintain the centrality of the dollar in the global financial system, as the most used and most capitalized stablecoins in the world are precisely those pegged to the US dollar.
Obviously, stablecoins guaranteed by US Government Bonds will be preferred, considered among the safest, least volatile assets, but above all, aligned with the monetary policy of the Federal Reserve (i.e., they allow greater control and better integration into the existing financial system).
In conclusion, this document represents an important step forward for the crypto sector in the United States. The direction taken seems to favor an approach based on innovation, regulation that does not hinder those who operate in the sector and the stability of the financial system.
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