The US crypto industry is hopeful that President-elect Donald Trump will issue pro-crypto executive orders on his first day in office, according to a recent Reuters report. Trump’s promises to embrace crypto and position the US as a global leader in the sector have sparked excitement among crypto advocates, who see his administration as an opportunity to reverse regulatory crackdowns and foster innovation. With the recent nominations of pro-crypto individuals to key economic and digital assets councils, the industry is optimistic about the future of crypto in the US.
One of the key priorities outlined by the crypto sector is the establishment of a Bitcoin Strategic Reserve, which would create a national reserve of BTC valued up to $21 billion. While some analysts believe this plan is unlikely to be implemented on day one, it would serve as a signal to agency officials about the administration’s priorities. Additionally, efforts to make it easier for crypto firms to access banking services in the US are also a top priority for the industry. Federal bank regulators are independent, so any executive order in this area would be more of a directive than a legal requirement.
Another important item on the crypto industry’s wishlist is the creation of a coordinated council to oversee the growth and regulation of the sector in the US. The nomination of David Sacks to lead crypto and artificial intelligence regulation is seen as a positive step towards achieving this goal. Insiders believe that these measures would send a strong signal to the market and solidify Trump’s commitment to being a “crypto president,” in contrast to the current administration led by President Joe Biden. Trump’s transition team spokesperson, Brian Hughes, reassured that the administration is committed to encouraging American leadership in crypto and innovation.
Overall, the US crypto industry is eagerly anticipating the pro-crypto executive orders expected to come from President-elect Donald Trump’s administration. With promises to embrace the sector and position the US as a global leader, Trump’s appointments of pro-crypto individuals to key roles have increased optimism among industry advocates. The industry’s wishlist includes the establishment of a Bitcoin Strategic Reserve, easier access to banking services for crypto firms, and the creation of a coordinated council to regulate and foster growth in the sector. These initiatives are seen as crucial steps towards solidifying Trump’s pledge to be a “crypto president” and encouraging American leadership in the crypto space.
