Trump’s Crypto Priorities: Executive Order to Make Crypto a National Focus
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President-elect Donald Trump is reportedly preparing to issue an executive order to make crypto policy a national focus. The order, which could be signed as early as January 20, would signal the U.S. intent to engage more strategically with the growing cryptocurrency industry.
Trump Set to Prioritize Crypto with Executive Order
According to Bloomberg on January 17th, the directive will instruct regulatory agencies to work collaboratively with the crypto sector while establishing a dedicated crypto council to advocate for the industry’s interests.
Reports indicate that this move aligns with Trump’s campaign promise to position the U.S. as a global leader in the crypto space. Industry insiders have noted that Trump’s administration focuses on resolving regulatory uncertainty and addressing crypto-related litigation.
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According to Reuters, the Securities and Exchange Commission (SEC) under the new administration might reconsider enforcement actions lacking fraud allegations.
Stuart Alderoty, Ripple Labs’ chief legal officer, commented on January 15, “The agency’s long-running action against the firm is likely to be abandoned by the next administration.”
Additionally, on January 13, The Washington Post reported plans for executive orders addressing crypto de-banking and reversing certain bank accounting policies that treat crypto assets as liabilities.
The administration is also reportedly considering the establishment of a government Bitcoin reserve.
Arkham Intelligence data reveals that the U.S. government currently holds over $20 billion in cryptocurrency, with $19.8 billion in Bitcoin alone.
Industry Voices and Policy Input
Senator Cynthia Lummis has also pushed for the U.S. Treasury to buy 1 million BTC worth an estimated $100 billion at current prices. She suggested that the U.S. Treasury consider converting part of its substantial gold reserves into Bitcoin to establish a strategic reserve.
However, not all proposals are finalized. According to Bloomberg, discussions are ongoing regarding a directive for government agencies to review their crypto policies and freeze pending crypto-related litigation.
Critics argue that such moves may favor corporate interests over consumer protections.
This is not Trump’s first interaction with cryptocurrency. During his previous presidency, Trump was vocal about his skepticism toward Bitcoin and other digital currencies.
However, the evolving financial landscape and increasing institutional interest in crypto policy appear to have shifted his stance.
