Trump’s Executive Orders on Crypto and AI Draw Congressional Backing

The orders, signed on January 23, establish the President’s Working Group on Digital Asset Markets, a body designed to drive regulatory collaboration between Congress, federal agencies, and key private-sector stakeholders.

Lawmakers such as House Financial Services Committee Chair French Hill and Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee Chair Bryan Steil have been quick to endorse the plan.

Source: Financial Services GOP X

According to Fox Business reporter Eleanor Terrett, the newly formed Working Group will propose a federal framework for digital assets, including stablecoins, while also evaluating a potential national digital assets stockpile.

Source: Eleanor Tarret on X

David Sacks, who serves as the White House AI & Crypto Czar, will chair the Working Group, working alongside officials like the Secretary of the Treasury and the Chairman of the Securities and Exchange Commission. This collaboration is intended to incorporate expertise from industry leaders so that policy decisions reflect both technological insight and regulatory prudence.

In the same set of orders, President Trump repealed the Biden Administration’s Digital Assets Executive Order and the Treasury Department’s international framework, with the White House citing concerns over their restrictive impact on American competitiveness and innovation in global digital finance.

The U.S. Securities and Exchange Commission (SEC) soon followed with a corresponding announcement that it will form a dedicated cryptocurrency task force. This new group is expected to provide greater legal clarity for crypto assets, addressing longstanding questions in the industry about ambiguous regulations under previous leadership.

Trump’s approach to advancing blockchain technology and AI received prominent endorsements. Hill and Steil praised the president’s initiative, saying, “We applaud President Trump for taking important steps to ensure America remains a leader in digital financial technology on the international stage.

The President’s Working Group will strengthen U.S. leadership and allow for critical collaboration to get this right.” They reiterated their intent to build upon legislative efforts opposing what they view as a harmful regulatory stance taken by former SEC Chair Gary Gensler, who they say favored rulemaking by enforcement. Hill and Steil also noted that they had cooperated with other House Financial Services Committee members to prohibit the creation of a central bank digital currency in the United States, arguing it raises privacy concerns that could infringe on American freedoms.

Lawmakers aligned with the Trump administration contend that safeguarding U.S. interests in digital finance extends beyond national pride.

They believe updating regulations and preventing overly restrictive federal control—such as the issuance of a Central Bank Digital Currency—will encourage private firms to continue developing stablecoins and other technologies that enhance the role of the dollar worldwide. Hill and Steil emphasized their determination to craft legislation that offers clarity for entrepreneurs while protecting consumers.

While Trump’s executive orders explicitly prohibit any federal action to create or promote a central bank digital currency, some policy makers remain concerned about the potential pitfalls of leaving stablecoin issuance solely to private companies.

Supporters see private-sector innovation as a powerful engine that will keep American financial services at the forefront of global markets. Others question whether additional oversight might be necessary to safeguard against risks ranging from fraud to systemic financial instability.

For now, the administration’s plan signals an unmistakable pivot toward a more proactive stance on emerging financial and AI technologies. Through newly formed working groups, legislative collaboration, and a clear rejection of past regulatory frameworks, President Trump and his allies appear committed to championing America’s leadership on the rapidly evolving frontier of digital assets.