Stablecoins can hold central banks fiscally accountable | Opinion
In recent months, the United States has taken important steps toward shaping the future of digital finance and national currencies. On January 23, 2025, President Donald J. Trump signed an executive order prohibiting federal agencies from creating or promoting central bank digital currencies (CBDCs). The order also revoked previous policies that were deemed to have stifled innovation and undermined economic freedom in the United States in the digital finance sector.
Then, on March 6, 2025, President Trump signed another executive order to establish the Strategic Bitcoin Reserve and the United States Digital Asset Warehouse. This Bitcoin Reserve is made up of bitcoins seized in criminal or civil cases, with the goal of holding them as a long-term reserve asset. The Digital Asset Warehouse will include other digital assets besides bitcoins that have also been seized in similar cases. The order emphasizes the strategic management of digital assets under US control.
These moves show that the US is focused on strengthening its leadership in digital finance while rejecting the development of its own CBDC. Meanwhile, other countries such as China and the European Union continue to develop their own CBDCs, which could impact global standards for digital currencies.
The US’s preference for stablecoins and decentralized digital assets could push other central banks to reconsider their monetary policies and face competitive pressures in maintaining stability and control over their national currencies. This shift could lead to a financial revolution, where digital assets play a major role in the global financial system.
