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Trump Could Prioritize Cryptocurrency With Executive Order

President-elect Donald Trump is reportedly preparing to declare cryptocurrency a national priority through an executive order, signaling a potential policy shift that could significantly impact the industry. According to a report published on Thursday, this order may include measures to incorporate cryptocurrency experts into his administration and encourage government agencies to align with the growing influence of digital assets.

Sources familiar with the plans revealed that the executive order aims to foster collaboration between federal agencies and the burgeoning cryptocurrency sector. A critical focus of this initiative is Bitcoin (CRYPTO: BTC), which recently reached a market valuation exceeding $2 trillion. This milestone reflects the rapid expansion of the industry and its increasing economic importance.

One proposal being considered under the executive order includes a directive for federal agencies to reassess their current policies regarding digital assets. The move could potentially lead to the suspension of ongoing litigation involving cryptocurrency, paving the way for a more favorable regulatory environment.

Another significant idea involves the establishment of a national Bitcoin reserve, incorporating the government’s existing Bitcoin holdings. This concept aligns with one of Trump’s prominent campaign promises aimed at gaining support from cryptocurrency advocates.

However, the executive order is still in development and may undergo changes before its official announcement. Bloomberg noted that the draft remains fluid, and the final details have yet to be confirmed. Meanwhile, representatives for Trump have not responded to requests for comment regarding the reported plans.

As Trump’s inauguration day approaches, speculation surrounding his administration’s stance on cryptocurrency has intensified. Recent developments suggest a more crypto-friendly approach, with reports highlighting efforts to address controversial regulations such as SAB 121. This regulation currently restricts banks from providing custody services for digital assets, a limitation that industry leaders have criticized as stifling innovation.

David Sacks, Trump’s advisor on artificial intelligence and cryptocurrency, is reportedly working closely with industry stakeholders to shape a legislative framework that supports technological advancement and economic growth. This collaboration underscores the administration’s potential commitment to positioning the United States as a global leader in digital assets.

While the specifics of the executive order remain uncertain, the mere consideration of such policies marks a pivotal moment for the cryptocurrency sector. If implemented, these measures could signal a new era of federal engagement with digital assets, offering clarity and potentially accelerating adoption across various sectors.

As the crypto community awaits further details, the implications of these proposed actions highlight the growing importance of digital assets in shaping national and global economic strategies.

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