President Donald Trump is set to issue significant executive orders on his first day, focusing on reshaping the cryptocurrency sector.
Creation of Presidential Crypto Council
One of the first actions expected is the establishment of a presidential crypto council. This council will include around 20 leaders from the cryptocurrency space, primarily CEOs and founders. These industry veterans are expected to provide advice to the president on digital asset matters and help guide the direction of the industry during Trump's term.
Repealing SAB 121
A key focus of Trump's executive orders will be the SEC's SAB 121 rule, which requires companies that custody cryptocurrency to treat clients' digital assets as liabilities on their balance sheets. Trump's orders could lead to its repeal, a welcome change for the industry.
Reforms and International Collaboration
Trump's administration is considering further reforms, including a crypto working group with SEC and CFTC officials, and aims to strengthen international cooperation in the crypto field.
Trump's administration is poised to intensify efforts to reform cryptocurrency policy, with a strong focus on international collaboration and removing barriers within the industry.
