AsianFin -- U.S. President Donald Trump has signed an executive order aimed at strengthening the United States' leadership in digital financial technology.

The directive, titled “Strengthening American Leadership in Digital Financial Technology,” outlines plans to evaluate the establishment of a strategic national Bitcoin and cryptocurrency stockpile while explicitly opposing the development of a Central Bank Digital Currency (CBDC). It also seeks to promote the adoption of stablecoins within the private sector.

The order emphasizes the administration’s support for the “responsible growth” and use of digital assets and blockchain technology. It revokes President Biden’s previous digital asset directives and establishes a new working group tasked with developing a unified regulatory approach to digital assets. The group is expected to deliver its findings within 180 days.

Among its mandates, the executive order directs the working group to evaluate the feasibility of creating and maintaining a national digital asset reserve. This reserve may include cryptocurrencies lawfully seized by the federal government through enforcement activities, with criteria for its establishment to be proposed by the group.

Additionally, the order instructs all federal agencies to cease any actions related to developing a government-backed digital dollar. Instead, it focuses on analyzing ways to support the growth of dollar-pegged stablecoins created by private entities.

The Treasury Department, Department of Justice, Securities and Exchange Commission, and other relevant agencies have been given 30 days to identify and report any existing regulations, guidance, or policies that impact the digital asset industry.

This move marks a significant shift in U.S. digital asset policy, signaling a pivot away from CBDCs while reinforcing efforts to lead in the global crypto and blockchain space.