Bloomberg: Crypto Industry Views Trump Executive Order as Fast Track to Friendly Regulatory Rules

BlockBeats News, January 24th, according to Bloomberg, the digital asset industry finally received support from President Donald Trump through an executive order, ending a long period of anxious waiting and opening up the enticing prospect of rapidly advancing a friendly regulatory framework.

This order, signed on Thursday, established a working group composed of key agencies to provide the White House with cryptocurrency policy recommendations, noting that the industry plays a "crucial role" in U.S. innovation, economic development, and international leadership.

The working group includes the U.S. Department of the Treasury, the U.S. Department of Justice, the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC), among other agencies. The industry had initially expected Trump to take action on Monday after his inauguration, but issues such as trade and energy took precedence.

The task of this working group is to submit a report to Trump in approximately six months, recommending a regulatory framework and legislative proposals, including evaluating the possibility of creating a cryptocurrency reserve.