The wheels are starting to turn on Donald Trump’s plan to turn the US into “Crypto Capital of the Planet“After he returned to the White House.

In a Executive Order Signed Thursday, Trump established a “working group on Digital Asset Markets,” which will be responsible for evaluating the possibility of the US forming a “strategic national digital asset stockpile,” among other things. .

The promise to build a stockpile is one of several commitments Trump made to the crypto industry before his reelection. Even the idea economists of economistsit received one Trapursurus acceptance among bitcoiners. As such Rumors of an upcoming announcement Spread Thursday, the price of Bitcoin rose to $105,000 per coinshort of record report.

The order is also required working group – which consists of the leaders of different branches of government, financial management bodies, and an appropriate set of regulations and laws governing the use of Crypto.

Earlier in the week, on Trump’s second day in office, the securities and exchange commission (Sec) – the US regulatory body that brought a volley of cases Against Crypto companies under the Joe Biden administration-ESTABLISHED a “Crypto Task Force.” Under the new leadership following the departure of former chair Gary Gensler, which is widespread demon of cryptposceThe SE will develop a “comprehensive and clear regulatory framework for Crypto assets,” the agency said.

Later that same day, Trump Cleency is given For Ross Ulbrhrich, who is serving life in prison for crimes committed while running the evil Market Market Market Sile, one of the first websites to accept Bitcoin. After being arrested in 2013, Ulbrisht became something of a martyr in Crypto circles for his part in spreading the Bitcoin gospel.

These initial gestures signal Trump’s willingness to follow through Previous Campaign Promises: To pass various laws related to Crypto, changing the US financial regulatory wardrobe, and integrating Crypto into the US National Treasury. The effects will be wide-ranging, Crypto figures believe, uniting more than just the coasts and creating the conditions for a new golden era for the industry.

“Our technology is very fast and changing. We need to put it in different societies,” said Joseph Lubin, cofounder of Ethereum and Chief Executive of the software company Consistently. “And America is a standard-setter for the rest of the world.”

Despite previously shunning Bitcoin as a “SCAM,” Trump is now Many Ties in the Crypto Industrymany high-profile members of which came out in support in his reelection campaign.

In the lead up to the 2024 election, Crypto organizations donated hundreds of millions of dollars of Crypto-focused super political action committees, which allocate funds to support candidates of Crypto-Friendly Conquills, mostly Republicans.

On the Campaign Trail, Trump began recasting himself as the first “President of Crypto. ” In July, in front of a rabid crowd of bitcoinersTrump has promised to turn the US into a cryptocurrency mining powerhouse and establish a National Bitcoin Stockpile if reviewed. In the same speech, he promised to fire Gensler, the chair of the SEC, which prompted the loudest applause of the night.