Trump's plans to create a more crypto-friendly government. He introduced a new task force. Here's what it could mean for crypto.

WASHINGTON, DC - JANUARY 23: David Sacks, "AI and Crypto Czar", speaks to President Trump as he signs a series of executive orders in the Oval Office of the White House on January 23, 2025 in Washington, DC. (Photo by Anna Moneymaker/Getty Images)

President Donald Trump signed an executive order on Thursday that would possibly create a national digital asset stockpile for the first time along with promoting the advancement of cryptocurrencies.

President Donald Trump took another step toward his promise to make the U.S. the “crypto capital of the planet” on Thursday, signing an executive order aimed at promoting the domestic cryptocurrency sector and exploring the possibility of a new national digital asset stockpile.

One of the former key White House Advisors under former President Biden shared some reactions to Trump’s new executive order on digital assets released last Thursday.

"The executive order, as a whole, is mostly aspirational and symbolic. But the direction it points, I think, is quite bullish," a crypto market source told BI.

The order signaled that the president intends to promote an industry that faced scrutiny during the Biden administration — and that he has a personal stake in.

President Trump signed an executive order Thursday promoting U.S. leadership in digital assets and establishing a working group that would be charged with proposing regulations for the crypto industry.