Key Takeaways:
- Crypto as a National Priority: Trump’s administration plans to sign an executive order designating cryptocurrency as a national priority, potentially forming a “crypto council” to align industry and regulatory efforts.
- Bitcoin Reserve Consideration: Discussions include the U.S. government holding Bitcoin reserves, leveraging seized assets as an inflation hedge and addressing national debt.
- Regulatory Overhaul: Proposed measures include easing compliance for crypto businesses, mitigating de-banking, and freezing non-fraud-related litigation in the sector.
Donald Trump’s incoming administration is reportedly preparing an executive order to prioritize cryptocurrency as a national focus.
Expected to be signed on January 20, the order would instruct regulatory agencies to collaborate with the crypto industry, potentially forming a “crypto council” to advocate for the sector’s interests.
Trump plans to release an executive order elevating crypto as a policy priority and giving industry insiders a voice within his administration https://t.co/egBFjchxsO
— Bloomberg Crypto (@crypto) January 16, 2025
This initiative aligns with Trump’s campaign pledge to position the U.S. as a global leader in cryptocurrency, a stance supported by significant backing from the crypto sector during his campaign.
Proposals under discussion include easing compliance burdens for crypto businesses, addressing de-banking issues, and exploring the potential of a government-held Bitcoin reserve.
With approximately $20.3 billion in seized cryptocurrency assets, mostly Bitcoin, advocates suggest such a reserve could hedge inflation and help manage national debt.
The administration is also considering suspending ongoing crypto-related litigation, particularly non-fraud cases, which could transform how regulators like the SEC approach the industry.
Industry leaders, through crypto advisor David Sacks, have influenced the draft policies.
Trump’s earlier remarks at a Bitcoin conference underline his vision of making the U.S. a “crypto capital.”
While details of the order and its long-term impact remain unclear, it signals a significant shift in national crypto policy.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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