Trump names Bitcoin and others as part of coming ‘Crypto Strategic Reserve’
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Summary
In a social media post, President Trump revealed that he had signed an executive order in January to create a Crypto Strategic Reserve.
As part of this, the Presidential Working Group has been commissioned to include Bitcoin, Ether, XRP, Solana and Cardano.
This comes after Trump’s promise on the election trail that the US would not sell its Bitcoin holdings.
The SEC has recently adopted a more positive stance towards cryptocurrencies, dropping several investigations and lawsuits against cryptocurrency firms.
One of these, Ripple’s XRP, has been the subject of a 2020 lawsuit in which it was ruled that it was an unregistered security, a ruling which the SEC is currently appealing.