Trump Announces U.S. Crypto Reserve
President Trump announced on Sunday the creation of a U.S. crypto reserve, a move designed to invigorate the growing cryptocurrency industry. The announcement, made on Truth Social, signals a significant shift in his approach to digital assets.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump stated.
Trump further declared his intention to make the United States the “Crypto Capital of the World.” This declaration arrives just before a White House summit scheduled for March 7th, which will bring together key figures from the cryptocurrency sector, including founders, CEOs, and investors.
One of Trump’s initial executive orders emphasized the fostering of “responsible growth” in the use of “digital assets” and related technologies to stimulate economic activity. A digital assets working group, established by Trump, faces a six-month deadline to advise the President on regulatory and legislative initiatives concerning the crypto industry.
Details on the exact composition and management of Trump’s proposed crypto reserve remain unclear. Despite prior dismissals of cryptocurrency as a potential scam, his recent campaign has shown an embrace of the digital asset space. This shift represents a notable evolution in Trump’s stance on the industry.
