President Donald Trump throws his support behind the creation of a federal reserve asset of encryption – initially underlined XRP, Solana and Cardano for inclusion, then later Bitcoin and Ethereum will “obviously” be included.
In January, Trump issued a executive order Calling for the creation of a work group that would study and make recommendations on the encryption policy, including the “possible creation and preservation of a national reserve of digital assets”.
The Working Group is supposed to “propose criteria for establishing such stock”, which could come from cryptocurrencies legally seized by the federal government through law enforcement efforts “.
In a post On Sunday morning on the social network of social truth, Trump seemed to go further, making it clear that he wants to see the reserve come true.
“An American Reserve Crypto will elevate this critical industry after years of corrupt attacks by Biden’s administration, so my executive mandate in digital assets directs the Presidential Working Group to proceed with a strategic reserve reserve that includes XRP and Sol.” “I will make sure the US is the world’s cryptographic capital.”
From the time of publication, the prices of all three cryptocurrencies mentioned in Trump’s position had collapsed by 20% or more. Then he wrote in a sequel position“And, obviously, BTC and ETH, like other valuable cryptocurrencies, will be the heart of the reserve. I also love Bitcoin and Ethereum!”
As Trump acknowledged in his place, his executive order appeared to overturn the overthrow of the encryption framework implemented by former President Joe Biden.
According to Trump’s administration, the Securities and Exchange Commission has taken a more friendly, liberating attitude towards the industry, Rejecting the lawsuit of Against Coinbase and stating that memecoins are not titles. (The value of his own $ Trump coin has fell from his inauguration.)
Trump has also signed an executive order calling for the creation of an American fund for the rich fund that said it could be used to buy Tiktok.
This post has been updated to reflect the Trump tracking message mentioned by Bitcoin and Ethereum.
