US President Trump signed an executive order on January 23, 2025, establishing the Working Group on Digital Asset Markets. Potential candidates for this council include notable crypto executives such as former Kraken general counsel Marco Santori, Ripple co-founder Brad Garlinghouse, Circle CEO Jeremy Allaire, and Coinbase CEO Brian Armstrong. This initiative is seen as a significant shift toward a more supportive government stance on digital currencies. The executive order outlines the council's directives to study the creation of a strategic digital asset reserve and to prohibit a central bank digital currency in the US. Key positions within the Working Group are to be filled by individuals from various government agencies, including the Secretary of the Treasury and the Attorney General, emphasizing the importance of digital assets in the U.S. economy. Additionally, the FDIC's recent communication suggests a tightening regulatory environment for firms engaged in crypto services, illustrating the ongoing tension between innovation and regulation in the industry.

Source 🔗