Butler County Today

Rep. Warren Davidson has expressed his support for President Trump's recent Executive Order on digital assets. The Ohio representative highlighted the contrast between the current administration's approach and that of former President Biden, under whom he claims digital assets faced significant challenges.

Davidson stated, "Under former President Biden and Gary Gensler, digital assets were constantly under attack. Today's Executive Orders on digital assets display real leadership. President Trump's actions will renew growth and innovation in the United States." He further emphasized the opportunity presented by a Republican majority in Congress to advance legislation that could position America as a leader in the digital asset sector.

The Executive Order introduces the Presidential Working Group on Digital Asset Markets, which aims to bolster U.S. leadership in digital finance. This group is tasked with creating a federal regulatory framework for digital assets, including stablecoins, and considering a national stockpile of these assets.

Chaired by the White House AI & Crypto Czar, the Working Group will include high-ranking officials such as the Secretary of the Treasury and the Chairman of the Securities and Exchange Commission. It will also consult with experts outside of government to guide its efforts.

The order mandates departments and agencies to identify regulations affecting digital assets that may need revision or removal. Additionally, it prohibits any agency action towards establishing central bank digital currencies (CBDCs). The order also nullifies previous directives from Biden's administration regarding international engagement on digital assets.