Trump signs to create a “crypto reserve”

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President Trump signed a decree on Thursday to create a national Bitcoin stock and other digital currencies, a daring idea that was widely criticized as a plan to enrich cryptographic investors.

The base of the stock will be a bitcoin reserve, estimated at $ 17 billion, which the United States has seized in legal affairs over the years.

Order Also calls on federal agencies to develop strategies to buy more bitcoin, the most popular digital currency, as long as these purchases do not generate additional costs for taxpayers.

“This executive decree underlines the commitment of President Trump to make in the United States the” world capital of the crypto, “said David Sacks, the political tsar of the crypto and the white house, in a job on social networks. He said the United States would not sell any bitcoin in the reserve, which he compared to “a digital fort Knox”.

Since Trump took office in January, his administration quickly evolved to raise the cryptography industry, a volatile sector that fought with federal regulators for years. The Securities and Exchange Commission abandoned the proceedings against two of the largest American cryptography companies and has aroused surveys on several others. And Friday, Trump is expected to welcome Crypto leaders at the White House for a first “cryptography summit”.

Trump has a personal participation in the success of the cryptographic industry, creating conflicts of interest that have made alarms to government ethics experts. Last year, he launched a company, World Liberty Financial, which offered a cryptocurrency called WLFI. A few days before its inauguration, it also started to sell a so-called same-a type of cryptocurrency linked to an online joke or a celebrity figure.