- Donald Trump plans to sign an executive order making cryptocurrency a national priority.
- The order will guide agencies to collaborate with the crypto industry.
President-elect Donald Trump plans to issue an executive order on January 20, designating cryptocurrency as a national priority. According to reports, the order aims to foster collaboration between government agencies and the crypto industry. It will establish a cryptocurrency advisory council to advocate for industry policies and guide regulatory agencies.
This move signals a significant policy shift. During President Joe Biden’s term, the crypto sector faced over 100 enforcement actions by the SEC and struggled with restrictive banking regulations. Trump’s initiative is expected to boost the industry’s role in shaping government decisions and promote the United States as a global crypto leader.
The order may include directives for agencies to review digital asset policies. It could also pause ongoing litigation against crypto firms like Binance and Ripple. Industry insiders see this as a top priority to ease regulatory pressures. Reports also suggest that the SEC might abandon cases that lack fraud allegations under Trump’s administration.
A key proposal under consideration is the creation of a national Bitcoin reserve. The government currently holds nearly $20 billion worth of confiscated Bitcoin, according to Arkham Intelligence. Formalizing these holdings would signal a strategic shift and highlight Bitcoin’s growing importance. Bitcoin has surged by 50% since November, trading above $100,000 due to speculation about the stockpile.
U.S. as a Global Crypto Leader
Trump has enjoyed strong support from the crypto industry, with companies like Coinbase and Ripple backing his campaign. The industry will host an “Inaugural Crypto Ball” in Washington days before his swearing-in, celebrating its ties with the new administration.
Trump’s move to prioritize cryptocurrency aligns with his campaign promise to make the U.S. a global crypto capital. His administration is also expected to introduce additional executive orders across various sectors. Industry leaders, such as Kara Calvert from Coinbase, believe this will position the U.S. as a leader in the crypto space, encouraging global competition.
Despite challenges under Biden, the crypto sector has grown. Firms like BlackRock and BNY Mellon have expanded their crypto offerings, highlighting the industry’s resilience and potential under supportive policies. Trump’s executive order will mark a new era for cryptocurrency in the United States, setting the stage for innovation and global leadership.
