Key Takeaways

• President Trump’s crypto policy has shifted the U.S. federal posture from enforcement-heavy ambiguity toward explicit support for digital assets, self-custody, dollar-backed stablecoins, and clearer SEC/CFTC jurisdictional lines.

• The administration’s January 2025 executive order created a President’s Working Group on Digital Asset Markets, called for a federal framework for digital assets and stablecoins, and prohibited agencies from advancing a U.S. CBDC.

• Trump’s March 2025 order establishing a Strategic Bitcoin Reserve strengthened the symbolic and policy status of Bitcoin as a strategic asset class in Washington, even though it did not itself create a new derivatives rulebook.

• In 2026, the practical…