Trump To Reportedly Issue Bitcoin And Crypto Executive Orders On His First Day Back In The White House

Incoming U.S. president Donald Trump has reportedly made it priority to issue several bitcoin and ... [+] crypto executive orders—predicted to send the bitcoin price soaring.

Incoming U.S. president Donald Trump has reportedly made it priority to issue several bitcoin and crypto executive orders — predicted to send the bitcoin price soaring.

Trump's day-one executive orders may address issues including de-banking and the repeal of a controversial crypto accounting policy.

The Trump team has reportedly made several bitcoin and crypto executive orders a priority for the new president's first day in the White House.

Incoming U.S. president Donald Trump has reportedly made it priority to issue several bitcoin and crypto executive orders — predicted to send the bitcoin price soaring.

Trump's day-one executive orders may address issues including de-banking and the repeal of a controversial crypto accounting policy requiring banks holding digital assets to count them as liabilities on the bank's own balance sheet.

"The Trump team has made it very clear that this is a priority," an anonymous source told the Washington Post.

The mysterious, unconfirmed so-called "Operation ChokePoint 2.0"—named for a similar, 2013 U.S. Department of Justice policy to debank legal industries deemed to be high risk for fraud and money laundering—has weighed on crypto companies through the Biden administration, with founders and executives claiming financial regulators have pressured banks to cut off crypto companies from financial services.

The issue was recently catapulted into mainstream consciousness by venture capitalist Marc Andreessen's appearance on Joe Rogan's podcast.

Andreessen, who has backed many tech and crypto companies at the VC company known as a16z and is an associate of Trump's so-called crypto czar David Sacks, is reportedly working with Trump’s incoming administration behind the scenes.

Meanwhile, crypto companies led by MicroStrategy's Michael Saylor have been campaigning against the policy that requires companies to report crypto as a liability, a result of a March 2022 Securities and Exchange Commission (SEC) staff accounting bulletin, SAB121.

The repeal of SAB121 is one of the three catalysts Saylor said would trigger a bitcoin price rally to $5 million—giving bitcoin a total market capitalization of $100 trillion.

Last year, Saylor, who has transformed his software company into a bitcoin-buying vehicle over the last five years, said during an X broadcast that the repeal of SAB121 will help "take us to $5 million a coin" as companies and financial institutions begin buying bitcoin.

"The other two [catalysts named by Salyor] have already happened (spot [exchange-traded funds] ETFs and fair value accounting)," Julian Fahrer, the chief executive of bitcoin rewards company Apollo, posted to X.

Last year, the world's largest asset manager BlackRock led a Wall Street rush into the newly approved spot bitcoin ETFs, with its IBIT bitcoin fund becoming one of the fastest growing ETFs of all time as traders piled in.

In November, the Financial Accounting Standards Board (FASB) officially adopted fair value accounting for bitcoin, allowing companies to more accurately reflect bitcoin's current market value in their financial statements.