On Jan. 23, U.S. President Donald Trump signed an executive order establishing a cryptocurrency working group, fulfilling his campaign promise to be a "crypto president."

The move aims to establish a comprehensive federal framework for cryptocurrency regulation while building the foundation for a "Bitcoin reserve,” Fox reported .

The advisory group will focus on developing digital asset policies, collaborating with Congress to craft crypto-friendly legislation, and coordinating efforts between key regulatory agencies, including the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Treasury Department.

A central objective of the initiative is to evaluate the establishment of a Bitcoin reserve, referred to in the executive order as a “digital asset stockpile."

The order follows Trump’s public courting of the digital asset sector during his presidential campaign, where he promised to create a favorable environment for crypto innovation.

Key Provisions of the Executive Order

The Presidential Working Group will also develop a federal regulatory framework for digital assets, including stablecoins, while also evaluating the creation of a strategic national digital asset stockpile. It will be chaired by the White House AI and crypto czar and include key officials such as the treasury secretary and the chairman of the Securities and Exchange Commission (SEC).

The order explicitly prohibits federal agencies from promoting or implementing central bank digital currencies (CBDCs), reversing the policy direction of the Biden administration.

In a statement accompanying the announcement, the White House said, "President Trump will help make the United States the center of digital financial technology by halting aggressive enforcement actions and regulatory overreach that have stifled crypto innovation under previous administrations."