Incredibly significant.
This was the comment of W. Oliver Segovia, former Head of Product Marketing for Payments, Custody, and Stablecoin at $XRP-issuer Ripple, on the executive order (EO) of the newly-assumed U.S. President Donald Trump on digital assets.
What’s the Significance? A positive feedback from a veteran in the industry shows that Trump is not just hyping the crypto community but is also serious about his promises to support blockchain technology.
The Analysis
For Segovia, there are six key highlights from Trump’s EO, titled “Strengthening American Leadership in Digital Financial Technology,” which was signed on January 23, 2025.
Highlight #1: Protects the freedom to go on-chain, mine, transact, and self-custody assets
Segovia pointed to Section 1.a.i. of the EO, which states:
“Protecting and promoting the ability of individual citizens and private-sector entities alike to access and use for lawful purposes open public blockchain networks without persecution, including the ability to develop and deploy software, to participate in mining and validating, to transact with other persons without unlawful censorship, and to maintain self-custody of digital assets.”
Highlight #2: Outlaws Central Bank Digital Currencies (CBDC)
The EO explicitly bans the establishment, issuance, circulation, and use of a CBDC within the U.S., citing risks to financial stability, individual privacy, and national sovereignty. (Section 1.a.v.) (Read more: Quick Take: Trump Bans CBDCs, Defines Them as “Central Bank Liability”)
Highlight #3: Formalizes David Sacks’ Working Group on Digital Asset Markets
The EO establishes a Working Group on Digital Asset Markets within the National Economic Council, chaired by a Special Advisor for AI and Crypto. Key members include:
- Secretary of the Treasury
- Attorney General
- Secretary of Commerce
- Secretary of Homeland Security
- Chairmen of the SEC and CFTC (Commodity Futures Trading Commission)
(Read more: Quick Take: Trump Forms Group to Explore US Crypto Reserve)
Highlight #4: Orders Sweeping Regulatory Review Within 60 Days
Within 30 days, regulatory agencies must identify all rules affecting the crypto sector. Within 60 days, they must recommend which should be rescinded or modified. (Section 4.b.)
Highlight #5: Creates a Federal Regulatory Framework for Stablecoins
The EO directs the Working Group to draft a nationwide stablecoin regulatory framework, addressing market structure, oversight, consumer protection, and risk management. (Section 4.a.i.)
Highlight #6: Evaluates a National Crypto Atockpile
The EO proposes studying the creation of a government-controlled digital asset reserve, potentially sourced from cryptocurrencies lawfully seized by federal law enforcement. (Section 4.a.ii.)
Key Quote:
“I’ve never seen the right to self-custody this privileged at the highest levels of (any) government.”
W. Oliver Segovia, Former Executive, Ripple
The EO also defines “digital assets” as any digital representation of value recorded on a distributed ledger, including cryptocurrencies, tokens, and stablecoins.
The Implication
Segovia linked the EO to Ben Thompson’s aggregation theory, which explains how platforms with vast user bases consolidate power—comparing it to Facebook’s social graph, Google Search, Apple hardware, and Amazon’s Everything Store.
Segovia previously held key roles at:
- Coinbase (Head of APAC Growth & Product Marketing)
- Google Pay (Global Growth Lead, Product Marketing)
- Facebook (Head of Consumer Product Strategy & Insights)
- Ava (Founder & CEO, Southeast Asia e-commerce & growth firm)
Worth Reading: The full EO of Trump for digital assets.
This article is published on BitPinas: Former Ripple Exec Hails Trump’s Digital Assets Move as ‘Incredibly Significant’
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