Crypto

What is Trump’s Executive Orders in Creations of Cryptocurrency Working Group?

Published

1 year ago

January 26, 2025

Press Room

What is Trump’s Executive Orders in Creations of Cryptocurrency Working Group?

What are recent updates on the Cryptocurrency Working Group?

US President Donald Trump signs an executive order banning the creation and promotion of Central Bank Digital Currencies (CBDCs).
The order prioritizes a private-sector-driven digital ecosystem, emphasizing dollar-backed stablecoins as an alternative to CBDCs.
A new Presidential Working Group is tasked with developing a comprehensive federal regulatory framework for digital assets.
The US strengthens its stance on Bitcoin and cryptocurrencies, signaling a major policy shift.

U.S. President Donald Trump has taken a groundbreaking step toward revolutionizing cryptocurrency regulations, delivering on his promise to reshape U.S. crypto policy swiftly.

His executive order not only establishes a dedicated Cryptocurrency Working Group but also aims to foster innovation, ensure regulatory clarity, and position the U.S. as a global leader in the crypto space.

What is Cryptocurrency?

Cryptocurrency is a decentralized digital currency secured by cryptography, operating on blockchain technology. Unlike traditional currencies, it isn’t issued by a central authority, making it immune to government manipulation or control.

Source: fintra.co.in

What are the Key Features of Cryptocurrencies?

Here are the features of Cryptocurrencies in detail:

Feature	Explanation
Decentralization	Operates on peer-to-peer networks, eliminating the need for intermediaries like banks.
Transparency Advertisement	Blockchain technology ensures all transactions are recorded and publicly accessible.
Security	Advanced cryptographic methods make cryptocurrencies highly secure against fraud and hacking.
Global Accessibility	Transactions can be conducted anytime, anywhere, without geographical restrictions. Advertisement
Limited Supply	Cryptocurrencies like Bitcoin have a finite supply, making them immune to inflation.

What are the policies and decisions made by US’s President Donald Trump in Cryptocurrency Group?

1. Creation of a Cryptocurrency Working Group

The newly formed working group will include top officials from:

Treasury Department
Securities and Exchange Commission (SEC)
Commodity Futures Trading Commission (CFTC)
Other key regulatory bodies

This task force is mandated to:

Develop a clear framework for regulating cryptocurrencies, stablecoins, and other digital assets.
Explore ways to balance innovation with consumer protection.

This initiative responds to the crypto industry’s longstanding demand for consistent and transparent regulations.

2. Protection of Banking Services for Crypto Firms

The executive order prohibits discriminatory practices against crypto companies by banks.
It encourages financial institutions to extend services to crypto firms, addressing complaints about restrictive banking practices stifling market growth.

3. Ban on Central Bank Digital Currencies (CBDCs)

Trump’s administration has explicitly opposed CBDCs, citing concerns over government overreach and its potential to stifle private cryptocurrencies like Bitcoin and Ethereum.
This move reinforces the administration’s commitment to supporting a decentralized financial ecosystem.

Note: What are CBDCs? Key Details about CBDCs

A Central Bank Digital Currency (CBDC) is a digital version of a country’s fiat currency, issued and regulated by the central bank. Unlike cryptocurrencies, CBDCs are centralized, secure, and backed by the government, maintaining the same value as the physical currency.

Designed to modernize financial systems, they offer fast, low-cost transactions, enhance financial inclusion, and provide better control over monetary policies. As digital payments become mainstream, CBDCs are seen as the future of money, enabling greater economic efficiency and global competitiveness.

Source: Bank of England

Rescinding Costly SEC Accounting Guidance

In a significant relief for the crypto industry, the SEC has rescinded prior accounting guidance that increased costs for companies safeguarding crypto assets.
This change is expected to encourage broader adoption of digital assets.

4. Exploration of a National Cryptocurrency Stockpile

The administration is considering the creation of a national digital asset reserve using cryptocurrencies lawfully seized through federal enforcement.
Details remain unclear, but experts believe it could boost U.S. crypto reserves and strengthen financial security.

What will be the Broader Implications on Trump’s Decisions on Cryptocurrency Group ?

1. Impact on CBDC Development

CBDCs have been gaining traction globally, with countries like China, Brazil, South Korea, and the UAE making significant progress.
However, Trump’s decision halts any efforts to create a US CBDC, marking a sharp divergence from nations that favor centralized digital currencies.

2. Elevating Cryptocurrencies and Stablecoins

Trump’s policy shift legitimizes Bitcoin, stablecoins, and other digital assets, steering the US digital economy toward decentralized solutions.

While this move supports innovation, it also raises questions about:

Decentralization: Balancing government regulation with crypto’s principles of openness and independence.
Ecosystem Stability: Ensuring stability as private-sector solutions expand.

3. US Dollar Dominance

By supporting dollar-backed stablecoins, the US aims to maintain the global dominance of the dollar while fostering innovation.
This strategy positions the private sector as a key player in the future of digital assets.

What will be the Global Context after Trump’s decisions on Cryptocurrency Groups?

While the US takes a private-sector-driven approach, several countries are embracing CBDCs. For instance:

China has advanced its Digital Yuan pilot program.
Bahamas, Nigeria, and Sweden have already launched their CBDCs.

The US decision could spark competitive dynamics in global digital finance, particularly with nations favoring centralized systems.

Trump’s Vision: A “Crypto President”

During his campaign, Trump vowed to champion the crypto industry. His administration’s approach starkly contrasts with former President Joe Biden’s restrictive policies, which included stringent enforcement actions against crypto exchanges.
Trump’s pro-crypto stance has sparked optimism within the industry. For instance, Bitcoin surged to a record high of $109,071 following the announcement, reflecting growing investor confidence in a crypto-friendly administration.

Industry Implications and Expert Opinions

1. Potential Benefits:

Regulatory Clarity: A standardized framework will attract more institutional investors and startups to the U.S. crypto market.
Innovation Boost: Support for private cryptocurrencies could position the U.S. as a global hub for blockchain technology.
Consumer Protection: Transparent regulations ensure the safety of investors and users.

2. Concerns:

Implementation Challenges: Building a comprehensive framework that satisfies all stakeholders will require significant coordination.
Congressional Approval: Some measures, like the national crypto stockpile, might face legislative hurdles.

Who has appointed a new Crypto and AI Czar of Cryptocurrency Groups?

To spearhead this transformation, President Trump has appointed David Sacks, a prominent venture capitalist and former PayPal executive, as the new Crypto and AI Czar. Sacks will chair the Cryptocurrency Working Group, emphasizing the administration’s focus on fostering innovation while maintaining regulatory oversight.

Source: REUTERS/Mike Segar

Comparison: Trump vs. Biden Crypto Policies

Here is the comparison of Crypto’s policy area between Trump and Biden:

Policy Area	Trump Administration	Biden Administration
Regulatory Approach Advertisement	Pro-business, fostering innovation	Restrictive, focusing on enforcement
CBDC Stance	Opposed, favoring private cryptocurrencies	Supportive of government-controlled CBDCs Advertisement
Banking Services	Protecting crypto companies’ access	No significant action
Crypto Exchanges	Favorable approach to major platforms Advertisement	Enforcement actions against key exchanges

Conclusion

President Trump’s executive order marks a pivotal moment for the cryptocurrency industry in the United States. By fostering innovation, ensuring regulatory clarity, and protecting banking services, this bold move aims to establish the U.S. as a global leader in the crypto space. While challenges remain, the administration’s pro-crypto stance has ignited optimism among investors and industry leaders alike.

As the world watches closely, one thing is clear: the U.S. is gearing up to be at the forefront of the crypto revolution.

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Crypto

Debate Brews Over Crypto Kiosks As Lawmakers Consider Potential Ban

Published

4 hours ago

February 27, 2026

Press Room

Debate Brews Over Crypto Kiosks As Lawmakers Consider Potential Ban

Lawmakers Consider Crypto ATM Ban as Scam Losses Rise — Including in Central Minnesota

Minnesota lawmakers are considering banning cryptocurrency kiosks as scam losses continue to rise across the state—including in Central Minnesota.

There are currently about 350 crypto kiosks operating statewide, located in places like gas stations, convenience stores, and grocery stores. These machines allow users to deposit cash and convert it into cryptocurrency, which can then be sent electronically.

Law enforcement officials say scammers are increasingly directing victims to use these kiosks because once the money is sent, it is extremely difficult—if not impossible—to recover.

Police say scams often begin with a phone call, text, or online message. In many cases, scammers pose as government officials, tech support workers, or even romantic partners. Victims are eventually told to withdraw cash and deposit it into a crypto kiosk to “protect” their money or resolve a supposed emergency.

Central Minnesota has seen similar cases. Because St. Cloud serves as a regional hub for shopping and services, crypto kiosks are available locally, giving scammers access points to target area residents.

Some say kiosks also serve legitimate users

Despite the concerns, crypto kiosks do offer legitimate benefits. They allow people to purchase cryptocurrency quickly using cash, without needing a traditional bank account, credit card, or online exchange. Supporters say this can make cryptocurrency more accessible, especially for people who prefer cash transactions or have limited access to banking services.

Crypto kiosks can also be used to send money quickly, including international transfers, without relying on traditional wire services. Some users view them as a convenient way to invest in cryptocurrency or move money electronically without going through a bank.

Companies that operate the machines say the vast majority of transactions are legitimate and that kiosks include warnings about scams. They argue the focus should be on stopping scammers, not banning the machines entirely.

Lawmakers weighing next steps

Supporters of the proposed ban say removing the kiosks could help prevent fraud and protect vulnerable residents, particularly older adults. Law enforcement officials told lawmakers that crypto kiosk scams have resulted in significant financial losses statewide.

Minnesota passed regulations in 2024 requiring some safeguards, including limits on deposits for new users and refund requirements in certain fraud cases. But officials say scammers have continued to adapt.

The bill remains under consideration at the Capitol.

In the meantime, authorities urge Central Minnesota residents to be cautious. Officials emphasize that legitimate government agencies, law enforcement, and businesses will never ask someone to deposit cash into a cryptocurrency kiosk.

As cryptocurrency becomes more common, lawmakers are now weighing whether the risks to consumers outweigh the convenience and accessibility these machines provide.

10 (More) Hilariously Bad Google Reviews of Central MN Landmarks

Crypto

Cryptocurrency Investment Fraud: Bizman loses Rs 2.6 cr to crypto, investment fraud | Hyderabad News – The Times of India

Published

17 hours ago

February 26, 2026

Press Room

Hyderabad: A 69-year-old businessman from Somajiguda lost 2.65 crore allegedly in a cryptocurrency and stock investment fraud. Based on his complaint, Hyderabad Cyber Crime police have registered a case.The complainant was first contacted by a fraudster posing as Ramya Krishnan on Aug 30, 2025 through Facebook. She persuaded the victim to invest in a cryptocurrency and stock trading platform, Polyus Finance PFP Gold, hosted at the domain pfpgoldfx.vip, promising high returns to finance his proposed resort and apparel ventures.Fraudsters provided the victim a contact number for daily communication and sent screenshots showing notional profits credited in his wallet in USDT cryptocurrency. To build trust, the fraudster even allowed the victim a token withdrawal of 4,300 on Sept 12, 2025.Encouraged, the victim transferred over 2.65 crore in 10 transactions between Sept 10 and Dec 39, 2025 to various current accounts provided by the accused.When he attempted to withdraw his ‘earnings’, the accused demanded an additional 15% conversion commission. After he refused, the website became inaccessible and calls to the fraudsters went unanswered.Realising that he was duped, the victim filed an online report on the National Cybercrime Reporting Portal (NCRP) before approaching the Cyber Crime police on Feb 25.Based on his complaint, a case was registered under Sections 66C and 66D of the Information Technology Act and Sections 111(2)(b) (Organised crime), 318(4) (Cheating), 319(2) (Cheating by personation), 336(3) (Forgery for purpose of cheating), 338 (Forgery of valuable security, will, etc.) and 340(2) (Using as genuine a forged document or electronic record) of the Bharatiya Nyaya Sanhita on Wednesday. Police were analysing financial transactions to identify and arrest the accused.

Crypto

Terror groups receive $1.7b. from Iran through Binance | The Jerusalem Post

Published

1 day ago

February 26, 2026

Press Room

Terror groups receive .7b. from Iran through Binance | The Jerusalem Post

Iranians were able to access more than 1,500 Binance accounts last year, and $1.7 billion was transferred from two of them to terrorist proxies, The New York Times reported Monday.

That was a potential violation of global sanctions, the report said, citing company records and documents collected by internal investigators.

The cryptocurrency exchange site reportedly fired or suspended at least four employees cited in the internal investigation. The company blamed “violations of company protocol” relating to its clients’ data, the Times reported.

The report came days after The Jerusalem Post spoke with experts from blockchain intelligence platform NOMINIS.io about how the Iranian regime was evading Western sanctions through cryptocurrencies.

The regime maintains a steady income using cryptocurrency through oil sales to Russia and China, NOMINIS CEO Snir Levi said at the time.

Binance founder Changpeng Zhao, who pleaded guilty to failing to implement a program to prevent money laundering, arrives for his sentencing in federal district court in Seattle, Washington. (credit: REUTERS/Deborah Bloom)

Regarding the latest scandal, he told the Post this week: “The latest allegations about Binance come months after the lawsuit by the victims’ families of October 7 – the ongoing Balva [versus] Binance case.

The majority of the allegations can be easily confirmed by on-chain data. There are thousands of cases where money has been sent and received to and from wallets that have clear connections to Iran.”

Binance founder Changpeng Zhao is being sued by the families of American victims and hostages of the October 7 massacre. He has been accused of knowingly enabling Hamas, Hezbollah, Palestinian Islamic Jihad, and Iran’s Islamic Revolutionary Guard Corps to transfer more than $1b. through its platform, including more than $50 million after the October 7 massacre.

Zhao pleaded guilty to anti-money-laundering violations in connection with Binance in 2023. US President Donald Trump pardoned him last October.

“They say what he did was not even a crime,” Trump told reporters last October. “It wasn’t a crime. That he was persecuted by the Biden administration, and so I gave him a pardon at the request of a lot of very good people.”

Binance representative Rachel Conlan said the accounts linked to the $1.7b. in Iranian transactions have been removed and the relevant authorities were informed.

“Any suggestion that Binance knowingly allowed sanctionable activity to continue unchecked is incorrect and defamatory,” she said, despite Zhao’s earlier admission of anti-money-laundering violations.

More than half a dozen compliance officials have left Binance, including a sanctions manager and the leader of the enterprise compliance team, over the past few months, the Times reported.

“No investigator was dismissed for raising compliance concerns or for reporting potential sanctions issues,” Conlan said in a statement to The Guardian.

Democrat senator opens inquiry into cryptocurrency company

While Conlan insisted there was no wrongdoing, US Sen. Richard Blumenthal (D-Connecticut) opened an inquiry into Binance on Tuesday, seeking records of the company’s dealings in Hong Kong , where funds have previously been transferred in a network against sanctions.

“Binance appears to have ignored warnings and recommendations to prevent Iranian money-laundering schemes on its cryptocurrency exchange,” Blumenthal wrote in a letter to Binance co-chief executive Richard Teng.

“According to documents obtained by the Times and the Journal, Binance was even warned that Hexa Whale was financing terrorist organizations such as the Yemeni Houthis, and internal investigators found cryptocurrency transfers to wallets associated with Iran’s Islamic Revolutionary Guards Corps and payments to crew members of Russia’s sanctions-evading shadow fleet of oil tankers,” he wrote.

“Instead of actually preventing illicit use, Binance has sought to evade accountability and influence the White House through lobbying and a financial partnership with World Liberty Financial (WLFI), the cryptocurrency firm owned by the sons of President Trump and his special envoy Steve Witkoff… This influence campaign has worked: In May 2025, the Securities and Exchange Commission announced that it was dismissing a lawsuit against Binance for lying to regulators and mishandling funds, followed in October by the stunning Presidential pardon of founder Changpeng Zhao.”

“The scale of the newly revealed illicit transfers – uncaught until nearly $2 billion flowed to sanctioned entities – and the unexplained firing of internal investigators call into question Binance’s compliance with American sanctions and banking laws, and its 2023 agreement to resolve the previous federal investigation,” Blumenthal wrote.