Donald Trump Signs Executive Orders on AI, Cryptocurrencies

US President Donald Trump signed executive orders aimed at advancing AI leadership and establishing a regulatory framework for cryptocurrencies. The orders aim to solidify US dominance in technological innovation, economic competitiveness, and national security.

“America will become the capital of AI,” said Trump during the signing ceremony in the Oval Office. 

A 2023 order by former President Joe Biden introduced safeguards for AI, requiring companies to share safety test results for high-risk systems with the US government. Trump’s new directive revokes these measures, calling for a 180-day timeline to create a comprehensive AI Action Plan. The plan, according to AP News, aims to reinforce US global leadership in AI by fostering innovation while addressing security and economic goals.

Simultaneously, Trump ordered the establishment of a cryptocurrency task force. This initiative aligns with his campaign promises to advance digital asset adoption. The Biden administration previously prioritized consumer protection and anti-fraud measures, including lawsuits against major crypto platforms such as Coinbase and Binance for regulatory violations. Trump’s order introduces banking protections and prohibits central bank digital currencies that could compete with existing cryptocurrencies.

Order Details

The AI-focused order mandates the development of policies to sustain and enhance US dominance in AI while fostering economic growth. Trump tasked his AI and national security advisors with identifying and eliminating regulations enacted by the Biden administration that could impede progress.

The cryptocurrency task force, which will include leaders from the Treasury Department, Justice Department, Securities and Exchange Commission, and Commodity Futures Trading Commission, is charged with creating a regulatory framework for digital assets. This includes exploring stablecoins and evaluating the feasibility of a national reserve of digital assets derived from confiscated cryptocurrencies. David Sacks, a former PayPal executive, has been appointed to oversee these efforts.

The AI Action Plan could reshape the regulatory landscape for emerging technologies, emphasizing innovation over precautionary measures. This shift might accelerate development but raises questions about potential risks to consumer safety and security, reports AP News. This approach may encourage growth, but regulatory clarity will remain crucial to balancing innovation with compliance.