All is not quiet: Trump's attack on global economy threatens dollar

Cryptocurrency order raises questions about vow to maintain dollar dominance

20250214N trump holds executive order on crypto REU

U.S. President Donald Trump's executive order on cryptocurrency was relatively low-key but holds broader implications for currency policy. © Reuters

AKIO FUJII

TOKYO -- Amid the rush of activity in the month since U.S. President Donald Trump took office, it is worth taking note of a relatively under-the-radar executive order signed in the first days of his term.

Titled "Strengthening American Leadership in Digital Financial Technology," the order bans agencies from taking action to establish a central bank digital currency, while encouraging the creation of dollar-pegged stablecoins by the private sector.

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