Trump's New Executive Order on Cryptocurrencies

U.S. President Donald Trump signed an executive order on Thursday to establish a working group on cryptocurrencies. The group is tasked with proposing new regulations for digital assets and exploring the possibility of creating a national cryptocurrency reserve, reports Reuters.

The order also prohibits the creation of central bank digital currencies in the U.S. that could compete with existing cryptocurrencies.

During his presidential campaign, Trump promised to be the "president of cryptocurrencies" and promote the adoption of digital assets.