President Donald Trump is throwing his support behind the construction of a federal reserve of cryptocurrency assets – initially exposing XRP, Solana, and Cardano for inclusion, then added bitcoin and atherium later.
In January, Trump issued an executive order, calling for the formation of a work group that would study and recommends the Crypto policy, including “a possible construction and maintenance of the national digital asset stockpile.”
The working group had to “propose the criteria for the installation of such a stockpile,” which can be probably obtained from the cryptocurrency seized by the federal government through its law enforcement efforts. “
In a post on his social network Truth Social this morning, Trump started moving forward, making it clear that he wanted to see the reserve becoming a reality.
“An American Crypto Reserve Biden will elevate this important industry after years of corrupt attacks by the administration, which is why my executive order on digital assets directed the President’s Working Group to move forward on a crypto strategic reserve, including XRP, Sol, and ADA,” written by Trump. “I will make sure that America is the Crypto capital of the world.”
As the publication time on Sunday morning, the three cryptocurrency prices mentioned in Trump’s post have increased by 20% or more. He then wrote in a follow -up post, “And, of course, BTC and ETH, as other valuable cryptocurrency, will be the heart of the reserve. I also like bitcoin and atherium! ,
As Trump accepted his position, his executive order seemed directed to undo a crypto regulatory structure imposed by former President Joe Biden.
Under the Trump Administration, the Securities and Exchange Commission has taken a friendly, dear -dear attitude towards the industry, dismissed its trial against the coinbase and announced that there are no memecoin securities. (The value of Trump’s own Trump coin has fallen since his inauguration.)
Trump has also signed an executive order, calling for the construction of an American sovereign money fund, which he said that it could be used to buy tickets.
This post has been updated to reflect Trump’s follow -up message, referring to bitcoin and atherium.
