President-elect Donald Trump appears poised to fulfil his campaign promises to the cryptocurrency sector, with multiple reports indicating that his administration will prioritize digital assets shortly after his inauguration on January 20, 2025.
According to a Bloomberg report citing sources familiar with the discussions, Trump plans to issue an executive order designating cryptocurrency as a national priority. This directive would seek to strengthen collaboration between the government and the crypto industry and establish a Crypto Advisory Council. The council is expected to give industry leaders a direct role in shaping federal policy on digital assets. A report in November 2024 highlighted how executives from major crypto firms in the country had already begun lobbying for seats on this council.
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The Washington Post claimed the executive order may aim to repeal the SEC’s controversial crypto accounting guidance, SAB 121, which many industry leaders have criticized as a barrier to innovation. Meanwhile, Reuters reported that Paul Atkins, the incoming chair of the Securities and Exchange Commission (SEC), will likely spearhead these initiatives.
Another key proposal, as reported by The New York Post, involves creating an “America-first” strategic crypto reserve. This reserve would prioritize U.S.-founded cryptocurrencies such as USDC, SOL, and XRP, aligning with Trump’s vision of cementing the U.S.’s dominance in the global crypto sector.
Interestingly, some analysts have dismissed rumours suggesting that he intends to create a “Bitcoin-only” reserve. James Van Straten noted that while Trump supports Bitcoin, he would likely prefer to accumulate the cryptocurrency discreetly. He argued that publicly announcing a Bitcoin reserve could drive up prices, making it harder to acquire at favourable rates.
Since Trump’s reelection in November, several states—including Texas, Pennsylvania, Ohio, and Oklahoma—have introduced legislation to establish bitcoin reserves. These state-level efforts reflect the growing momentum toward cryptocurrency adoption at both the federal and state levels.
Notably, Hunter Horsley, CEO of Bitwise Asset Management, suggested that Trump’s economic policies could encourage corporate mergers and acquisitions. He believes this consolidation might increase the appeal of decentralized systems as tech giants like Google and Amazon expand their influence.
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