NEW EXECUTIVE ORDER: Donald Trump bans official digital currency in the US

The order prohibits any federal agency from developing or promoting a CBDC (a Centralized Bank Digital Currency).

And terminates all ongoing plans related to such initiatives.

The Executive Order is titled, “Strengthening American Leadership in Digital Financial Technology.”

The move reflects Trump’s stated commitment to keeping digital financial innovation within the private sector while avoiding government-controlled digital currencies. Additionally, the executive order establishes a working group to regulate digital assets, including stablecoins, and evaluate the creation of a national cryptocurrency stockpile.

The proposed stockpile is expected to include Bitcoin, aligning with Trump’s campaign promises.

Last year, he pledged to leverage Bitcoin assets seized by law enforcement to build a strategic reserve. Currently, the U.S. government holds over 198,000 BTC, worth more than $20 billion.

Senator Cynthia Lummis has introduced separate legislation to expand the reserve through large-scale Bitcoin purchases, though it would require congressional approval. Trump also fulfilled another major crypto-related pledge this week by granting a full pardon to Silk Road founder Ross Ulbricht.