Shortly after taking office, U.S. President Donald Trump signed an executive order that set a new course for the country’s crypto industry. The document, titled “Strengthening American Leadership in Digital Financial Technology”, delivers on several promises from the election campaign. Its provisions are meant to let ordinary citizens and large companies use cryptocurrencies freely, build on blockchain technology, take part in mining, make payments, and store digital assets securely.
Update: this article covers the executive order of January 23, 2025. A separate order of March 6, 2025 later established the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile, the working group published its report in July 2025, and the GENIUS Act introduced federal rules for payment stablecoins.
Crypto Assets Become a National Priority for the USA
Trump declared crypto assets and digital currencies a matter of national interest, with the aim of reshaping the American financial system. After years of tight restrictions under the previous administration, the cryptocurrency sector is set to receive systemic support. The order streamlines crypto regulation and instructs the government to evaluate a national reserve of digital assets. Its stated goal is to strengthen America’s position in the crypto market and open new opportunities for market participants.
The main provisions of the order at a glance:
| Provision | What it does |
|---|---|
| Digital asset markets task force | Drafts a new regulatory framework and reports within 180 days |
| Banking access | Declares fair and open banking services a right of law-abiding crypto businesses |
| CBDC ban | Prohibits federal agencies from developing or promoting a central bank digital currency |
| National reserve | Orders an assessment of a digital asset stockpile built from seized cryptocurrencies |
| Previous policies | Revokes the Biden-era executive order and the Treasury’s international engagement framework |
Stablecoins and the National Bitcoin Reserve
A significant part of the document focuses on stablecoins: cryptocurrencies pegged to the U.S. dollar. Dollar-backed tokens, the argument goes, extend America’s influence over the global economy, so the President stressed that this technology must be developed in the United States and enjoy the backing of the state.
National Bitcoin Reserve: A New Tool for Reducing National Debt?
Crypto investors and industry leaders have actively campaigned for a national Bitcoin reserve. In their view, the appreciation of the tokens held could help reduce the national debt, and the move would bring the volatile cryptocurrency community into the mainstream of America’s financial future.
Trump has repeatedly said he wants America to lead the crypto asset market, and the reserve fits that ambition. The order itself stops short of creating one: it calls for an assessment of a national cryptocurrency reserve that could consist of Bitcoin and other digital assets seized in past investigations by U.S. law enforcement.
Removing Barriers to Banking
A key component of the executive order is access to banking services for crypto businesses. In recent years, companies dealing with cryptocurrencies have repeatedly complained about “de-banking”: banks refusing to serve them under pressure from restrictive supervisory policies. The new order declares “fair and open access” to banking a necessity for all law-abiding citizens and businesses.
Ban on a Central Bank Digital Currency
The order not only encourages decentralized finance but also prohibits the development and use of a central bank digital currency (CBDC) in the United States. The reasoning is that such technology could hand the government excessive control over the finances of citizens and companies.
Revising Old Policies
As part of the executive order, Trump revoked several policies adopted under Joe Biden’s presidency, including the U.S. Treasury framework for international engagement on digital asset regulation. The new approach calls for a full overhaul of that policy to make it transparent and innovation-friendly.
The order also creates a working group on digital asset markets, tasked with drafting a new regulatory framework for digital assets. This fulfills Trump’s campaign pledge to promptly review U.S. crypto policy.
180 Days for Reform: How Will the Rules for Digital Assets Change?
The working group, chaired by David Sacks, the President’s special advisor on cryptocurrency and artificial intelligence, brings together the key departments and agencies: the Treasury, Justice, Commerce, Homeland Security, the SEC, and the Commodity Futures Trading Commission (CFTC). Within 180 days, it must present a report with recommendations on new regulation, risk management, and support for stablecoins.
Rolling Back the SEC Custody Rule
One of the most anticipated consequences of the order concerns the SEC accounting guidance that made third-party custody of crypto assets prohibitively expensive for publicly traded companies. On the same day the order was signed, the SEC rescinded that guidance (SAB 121), which the crypto community had long criticized for hindering wider adoption of digital assets.
Market Reaction
The price of Bitcoin dipped slightly after the order was signed. According to analysts, the market had already priced in these actions, so the immediate impact was limited. In the longer term, however, experts expect the measures to create more favorable conditions for the crypto industry to grow. Overall, Trump’s new policy strengthens America’s position as a major hub of digital finance and gives crypto companies the long-awaited clarity and support.
Adapting to Global Changes
Working with crypto assets successfully requires not only an understanding of their specific nature but also compliance with regulatory requirements, above all in jurisdictions with mature crypto environments such as EU member states, where the sector is governed by the MiCA regulatory framework. Companies planning to serve EU clients will need to consider obtaining a European crypto license under MiCA.
For anyone entering the EU crypto services market, timely compliance is essential. Eesti Firma has been working with blockchain projects since 2017 and offers tailored solutions, consulting, and accounting to adapt your company to new trends and make the most of new opportunities. Get in touch to make your project a success at any stage of development.
Frequently Asked Questions
It is the order “Strengthening American Leadership in Digital Financial Technology” signed on January 23, 2025. It sets a policy of supporting blockchain and digital asset development, bans a U.S. CBDC, and creates a working group to propose a regulatory framework.
Not directly. It instructed the working group to evaluate a national digital asset stockpile. The Strategic Bitcoin Reserve was established by a separate executive order in March 2025.
The EU regulates crypto assets through MiCA, a single rulebook that applies in every member state. The U.S. order sets the policy direction and delegates the details to a working group and Congress.
We advise on company structure, licensing, and accounting for blockchain projects that want to operate in the EU.
