Trump Signs Executive Order on Digital Assets, Creating a Working Group to Study the Market and Make Policy Recommendations

Among the most relevant provisions included in the EO, Trump is creating a Working Group on Digital Asset Markets that has been tasked to submit a report to the President within the next 180 days where they “recommend regulatory and legislative proposals” that help the administration achieve its goals in the field of digital financial technology.

President Donald Trump has signed an executive order to legalize cryptocurrency mining and promote the development of digital currencies to strengthen the dollar's dominance, while banning plans to launch a U.S. central bank digital currency (CBDC).

The order also includes a provision for a Working Group on Digital Asset Markets to submit a report to the President within 180 days with recommendations on regulatory and legislative proposals to help the administration achieve its goals in the field of digital financial technology.

This move by the Trump administration is a significant shift from the hostile stance toward cryptocurrencies taken by the Biden administration over the past four years. The new measures are expected to foster the beginning of a new era for the crypto industry in the United States.

Bitcoin Price Analysis

Bitcoin (BTC) is facing resistance at the upper Bollinger Band on the daily chart, with a breakout above this level signaling a move toward the next resistance at $112,000.

If BTC fails to clear the upper Bollinger Band, a correction could follow, with the first support at the lower Bollinger Band ($98,000) and the second support at the 50-day moving average ($92,000).