President Donald Trump signed an executive order to establish the Presidential Working Group on Digital Asset Markets on Thursday, according to reporting by Fox Business, opening the door to a potential “strategic national digital asset stockpile.” David Sacks, White House A.I. and crypto czar will lead the group, which will include key figures such as the SEC Chairman and the Secretary of the Treasury. The group will craft a federal regulatory framework for governing digital assets and subsequently evaluate the creation of the highly anticipated strategic reserve which many in the crypto community have been calling for. Interestingly, the order specifically prohibits federal agencies from “undertaking any action to establish, issue, or promote central bank digital currencies (CBDCs),” Fox Business stated.

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