U.S. President-elect Donald Trump is set to sign an executive order prioritizing cryptocurrency as a national focus on January 20th, initiating the formation of a crypto advisory council.
Move Toward Crypto Regulatory Clarity
Ron Hammond of the Blockchain Association suggests the advisory council could benefit the crypto industry by providing a platform for stakeholders to voice concerns. This move might encourage more supportive administration policies towards crypto innovation.
Creation of a U.S. Bitcoin Reserve
One proposed initiative is the establishment of a national Bitcoin reserve. With substantial amounts of seized digital assets including Bitcoin, this plan could enhance the U.S. economy.
Addressing Crypto De-banking and Standards Revision
The Trump administration aims to facilitate banking access for crypto firms by revising how banks account for cryptocurrencies. This could create more market opportunities.
Trump’s crypto policies, which include the establishment of an advisory council and potential legal action revisions, are expected to differ significantly from the previous Biden administration’s approach.
