Donald Trump, the president-elect of the United States, is poised to take a significant initiative to reform the nation’s approach to cryptocurrency. Reports suggest he plans to sign one executive order after taking office on January 20. The goal is to prioritize digital assets on a nationwide scale.
A shift towards innovation
This is a drastic change from the previous administration’s position, which was often described as hesitant or restrictive towards the crypto industry. Trump’s administration have shown interest in digital currencies, a sign of their willingness to embrace fintech innovation. This could be the springboard for more defined regulations and increased cooperation between the government and the cryptocurrency sector.
A crypto policy advice
Discussion and proposals include developing a dedicated body that would solely advocate for crypto interests. Ideally, this organization would act to bridge the world of regulators to the views of market participants, ensuring that such policies are equally balanced and offer support for economic growth. And by doing all this, the administration is trying to create a non-hostile ecosystem for businesses and investors alike.
President-elect Donald Trump plans to release an executive order elevating crypto as a policy priority and giving industry insiders a voice within his administration, according to people familiar with the plans.https://t.co/b6X1BFriXZ
— Stars and Stripes (@starsandstripes) 17 January 2025
BTCUSD trading at $101,432 on the daily chart: TradingView.com
The signing
Sources say Trump could sign the order on Jan. 20, the first day of his presidency. It could also put an end to any crypto cases that are still ongoing and prompt all government groups to rethink their approach to digital currencies.
Market Reactions and a Bitcoin Reserve
Most of the market’s reactions have been very positive to the latest developments. Even after the news broke, Bitcoin price rose to $102,000, proving that investors are gradually becoming optimistic about crypto’s future under the new government. Analysts believe this could continue as information about Trump’s plans comes in.
US government's total bitcoin holdings. Source: Arkham Intelligence
There are also proposals to make a national Bitcoin reserve. The fact that the US government has over $20 billion in seized cryptocurrency assets can be proof that you want to use digital assets in the long term.
A promising future for crypto
The US will have a huge chance to solidify its place as the world leader in the cryptocurrency space thanks to Trump’s plan. Government can make the most of digital assets by promoting new ideas, streamlining regulations and attracting investment.
Featured image from the Chairman of the Joint Chiefs of Staff, charts from TradingView
