President Donald Trump signed his first crypto-related executive order on Thursday, formally establishing a Presidential Working Group on Digital Asset Markets and laying the groundwork for exploring some of his campaign promises—including potentially establishing a national reserve for Bitcoin and other assets.
The Presidential Working Group will advise Trump on matters related to crypto policy and inform his decision-making with regards to the industry. Trump previously announced that the group will be led by Silicon Valley venture capitalist David Sacks, the White House’s first-ever “AI and crypto czar.”
Its day-to-day operations will be managed by Bo Hines, a one-time Republican congressional nominee and former college football player. The group will also include the Secretary of the Treasury, the SEC and CFTC heads, and other department and agency leaders.
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