On January 23, 2025, President Donald Trump signed an executive order to establish a cryptocurrency working group. This group is charged with proposing new regulations for digital assets and exploring the development of a national cryptocurrency reserve.

David Sacks, who was recently named Special Advisor for Artificial Intelligence and Cryptocurrency, will lead the working group.

The group will include the Treasury Secretary, the Secretary of Homeland Security, and other key agency leaders.

Their duties involve reviewing existing regulatory frameworks, creating new guidelines, and evaluating the feasibility of a national digital asset reserve.

The executive order also bans the creation of a central bank digital currency in the United States.

After the announcement, Bitcoin was valued at roughly $103,000.

This initiative is in line with President Trump's campaign promise to make the United States a frontrunner in digital asset innovation.