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Yunon Jin
@yunonjin
š” A few words about the documents that Trump signed yesterday. Many TG-channels, without delving into the essence of what was written, immediately decided that the decrees of the US President are aimed at creating a federal bitcoin reserve. In fact, this is not the case. Below I have tried to concisely describe the essence of the document signed yesterday by Trump: š£ Creation of a working group on crypto markets. The group will develop a unified federal regulatory framework for digital assets, as well as explore the idea of creating a strategic national stockpile of digital assets. That is, now only a team will be assembled to analyse the feasibility of the very idea of a national stockpile of crypto. I'll also point out that a national stockpile and a federal reserve are not identical concepts.
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Yunon Jin
@yunonjin
š£ Ban on the creation and use of CBDC. The US has officially abandoned the idea of a central bank digital currency (CBDC), citing threats to the stability of the financial system and the privacy of citizens. I'm not sure about the threats, but the fact that the US government has decided not to compete with other stablecoins in the market plays into our hands. š£ Excluding the Fed and FDIC from working groups. The Federal Reserve and FDIC (the state's deposit insurance agency) will no longer be involved in shaping crypto policy. This could put an end to attempts to block cryptocurrency companies from banking.
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