President Donald Trump has signed an Executive Order titled "Strengthening American Leadership in Digital Financial Technology." The order embraces open blockchain networks like Bitcoin while prohibiting the development of Central Bank Digital Currencies (CBDCs).
The order supports the responsible growth and use of digital assets, including the right to access open public blockchain networks without interference. It also highlights the importance of dollar-backed stablecoins to safeguard the U.S. dollar's global role.
The order calls for technology-neutral regulations, regulatory clarity, and an innovation-friendly framework. It aims to foster an environment where blockchain startups and companies can innovate without fear of sudden enforcement actions.
The order categorically prohibits the creation, issuance, and promotion of CBDCs. It signals a preference for open, permissionless blockchain networks like Bitcoin over government-controlled digital currencies.