President Donald Trump backed the idea of creating reserves for federal crypto assets – he specifically mentioned XRP, Solana and Cardano, but not Bitcoin or Ethereum.
Trump published in January Executive Order Required to establish a working group Research and make recommendations around cryptocurrency policyincluding “potential creation and maintenance of national digital asset inventory”. The working group should “propose a standard for establishing such inventory” that “may be derived from cryptocurrencies that the federal government has legally occupied through its law enforcement efforts.”
exist Posts This morning, Trump seemed to go further on his social network truth social network, making it clear that he wanted to see reserves become reality.
“After years of corruption attacks on the Biden administration, U.S. crypto reserves will boost this critical industry, which is why my executive order on digital assets directs the Presidential Task Force to advance crypto strategic reserves including XRP, SOL and ADA,” Trump wrote. “I will make sure the United States is the crypto capital of the world.”
As of Sunday morning, all three cryptocurrencies mentioned in Trump’s posts have increased prices by 15% or more.
As Trump acknowledged in his position, his executive order appears to be targeting a crypto-regulatory framework set by former President Joe Biden.
Under the Trump administration, the SEC appears to have adopted a more friendly relaxation state to the industry, Dismissed his lawsuit Oppose Coinbase and declare Memecoin is Not a securities. (The value of Trump’s own $Trump coins He has plummeted since he took office)
Trump also signed an executive order Create a US sovereign wealth fund He said it might be Used to purchase tiktok.
