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Cryptocurrency News Articles

The US Government's Discourse to Include a Number of Crypto Assets into the Country's Reserves Is Becoming a Hot Topic of Conversation

Jan 18, 2025 at 08:00 am

These efforts are seen as a positive signal and have the potential to change the digital financial landscape in Uncle Sam's country.

The US Government's Discourse to Include a Number of Crypto Assets into the Country's Reserves Is Becoming a Hot Topic of Conversation

The US government’s discussion to include several crypto assets in the country’s reserves is becoming a hot topic of conversation among industry players and economic observers. These efforts are seen as a positive signal and have the potential to change the digital financial landscape in Uncle Sam’s country.

Rumors circulated that the US government is eyeing several digital assets, including assets developed by US-based companies. The assets include XRP, Solana, and USDC and other assets issued by financial technology companies centered in various cities in the US.

The policy is seen as part of the ‘America First’ vision adapted for the digital financial era, with the aim of strengthening the position of the United States in the global crypto market. President Donald Trump’s administration aims to support financial technology innovation and maintain US dominance in the fast-growing sector.

Sources from Washington say that the digital assets considered all come from US-based companies. XRP, for example, is a product of San Francisco-based Ripple Labs, while Solana was developed by Solana Labs, also from San Francisco. On the other hand, USDC is a stablecoin published by Circle, a company headquartered in Boston, Massachusetts.

The move is in the spotlight for including XRP, a token that is currently dealing with lawsuits by the US Securities and Exchange Commission (SEC). However, XRP’s presence in this could indicate a potential change in regulatory attitude towards the crypto sector under the Trump administration. Ripple CEO Brad Garlinghouse, reportedly has had a dialogue with Trump, opening up opportunities for reconciliation between crypto industry players and supervisory authorities.

In addition, Solana, known as Ethereum’s main competitor thanks to its high throughput capacity, as well as USDC, the most widely used stablecoin in the US, is also a strong candidate. Government support for these assets can encourage further development and increase adoption, provide recognition or even official support.

Anticipation of the plan is increasing ahead of Trump’s inauguration on January 20. The crypto industry hopes that there will be a new executive policy or regulation that can accelerate the recognition and adoption of digital assets. One thing to look forward to is the possibility of revocation of SAB 121, a rule that has so far limited the involvement of banks in crypto asset transactions.

If the discourse of establishing this strategic reserve is realized, the impact could be very significant for the future of digital finance in the US. This could be a new milestone for the crypto sector under Trump’s leadership, which has the potential to strengthen US positions in the blockchain-based digital financial sector.

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Other articles published on Jan 18, 2025