As he prepares to take office, Donald Trump is outlining a series of orders aimed at transforming U.S. cryptocurrency policy.
Creation of Councils and New Policy
One of Donald Trump's first actions as president is expected to be the creation of a presidential cryptocurrency council, consisting of approximately 20 industry leaders, mainly CEOs and founders. These experts will advise the president on digital asset matters. Previously, David Sacks, a former PayPal executive, was appointed as the 'crypto czar'.
Repeal of SAB 121
Another major focus of Trump's orders is the repeal of the SEC's SAB 121 rule, which requires companies to account for clients’ crypto assets as liabilities. The rule has faced significant opposition from the crypto community.
International Collaboration and Other Reforms
Trump's administration is considering the creation of a working group with SEC and CFTC representatives to coordinate crypto-asset regulation. International collaboration in cryptocurrency innovation is also planned.
As Trump's inauguration approaches, the cryptocurrency industry is actively preparing for changes, supporting his initiatives, and discussing next steps at key events.
