DIGIVESTASI - President of the United States, Donald Trump, signed an executive order on Thursday, January 23, 2025, fulfilling two of his key promises to the cryptocurrency community. The order includes the establishment of a presidential working group to design clear regulations for the digital asset industry and prohibits the development of central bank digital currencies (CBDCs).

However, the order has yet to initiate the creation of a national Bitcoin strategic reserve, a promise Trump made during his 2024 campaign. Instead, the working group will evaluate the feasibility of establishing and managing a national digital asset reserve. This includes setting criteria for assets acquired legally through law enforcement actions. This step paves the way for the government to hold digital assets other than Bitcoin as part of its strategic reserve.

Reversal of Biden-Era Policy

Trump also repealed an executive order issued by President Joe Biden in March 2022. Biden’s order had tasked government agencies with assessing the risks associated with cryptocurrencies and developing mitigation measures for the technology.

Bitcoin (BTC) prices briefly surged following the announcement of Trump’s executive order but later corrected. Over the past 24 hours, Bitcoin experienced a slight gain after reaching an all-time high on Monday morning, just before Trump’s inauguration.

According to Sean Farrell, head of digital assets at Fundstrat, the move was widely anticipated by market participants. "What was announced today was already expected," he told Yahoo Finance on Friday (January 24, 2025).

Farrell also highlighted that Trump’s pro-crypto stance marks significant progress for the future of the digital asset industry. In 2022, Trump expressed his ambition to make the United States the global hub for cryptocurrency.

Official Trump and Melania Meme Coins

As part of his support for crypto, Trump’s team recently launched official meme coins for the 47th president (TRUMP) and First Lady Melania Trump (MELANIA). These coins, built on the Solana (SOL) blockchain, began trading last Sunday.