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Cryptocurrency News Articles
Trump Prepares Executive Order to Prioritize Cryptocurrency, Establish Crypto Czar and Council
Jan 18, 2025 at 02:46 pm
A major policy shift in the United States could soon alter the landscape of crypto regulations seen under President Biden's administration. President-elect Donald Trump is reportedly preparing an executive order that will prioritize cryptocurrency at the national level, a move that could reshape the regulatory approach to the industry.
The initiative aims to integrate cryptocurrency into federal policy, encouraging collaboration between private companies and government agencies while enhancing the legitimacy of digital assets.
Trump's crypto push: A new era for digital assets? What a difference an election can make. What do I mean? We went from @GaryGensler and @ewarren’s UNLAWFUL war against crypto to @realDonaldTrump establishing a Crypto Czar in @DavidSacks, a Crypto Council and elevating crypto as a policy priority on day one. And let’s not forget… https://t.co/GwOcVb1YLt pic.twitter.com/OdkMS4u8ZB
CREating a crypto advisory council: A platform for industry voices
The executive order proposes the establishment of a crypto advisory council, providing industry stakeholders with a direct channel to influence regulatory decisions. This council will ensure that businesses operating in the crypto sector have a tangible role in shaping policies.
Related: Trump-backed crypto project moves $61.4M in Ethereum to Coinbase
The initiative contrasts sharply with the enforcement-driven approach undertaken by former SEC Chair Gary Gensler. Moreover, the order is expected to provide new guidance to federal agencies on digital asset oversight, potentially pausing lawsuits involving cryptocurrencies during the policy review process.
Bitcoin stockpile: A national strategy for digital gold
A notable proposal in Trump's plan is the creation of a national Bitcoin stockpile. The U.S. government, which already holds Bitcoin valued at over $20 billion, could expand its holdings and formalize Bitcoin's role as a financial asset.
Since November, Bitcoin prices have surged nearly 50% amid anticipation of this move. By strengthening its presence in global markets, the proposed stockpile could enhance Bitcoin's integration into both domestic and international finance.
Related: SEC Chair Gary Gensler gets pressed on crypto in his final interview with Joe Kernen
Regulatory reforms to stimulate growth in the crypto industry
Despite facing regulatory hurdles during the Biden administration, the U.S. crypto industry has demonstrated resilience, with institutions like BlackRock launching Bitcoin and Ether ETFs. Trump's executive order is expected to create a more business-friendly environment by simplifying compliance and establishing clear rules for the industry.
With the introduction of the advisory council, a Bitcoin stockpile strategy, and regulatory reforms, the executive order signals a more supportive stance toward the crypto sector. These measures could foster growth and attract further institutional investment in digital assets.
The details mentioned in this article are solely for informational and educational purposes. This article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are urged to conduct their own due diligence before taking any actions related to the company.
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