Could Trump’s erratic style lead the US to global cryptocurrency dominance?

As the new pro-crypto president prepares to take office, cryptocurrency advocacy groups oppose a central bank digital currency and push for strong crypto custody rules. Who opposes these policies?

Congress certifies the 2024 election, paving the way for a pro-bitcoin Trump administration

January 6, 2025 marked a pivotal moment in Washington, D.C., as Congress officially certified the results of the 2024 elections. This set the stage for what promises to be the most pro-bitcoin and cryptocurrency administration in US history.

The smooth ratification process highlighted a bipartisan commitment to stability and progress, paving the way for the long-awaited inauguration on January 20 of President-elect Trump, who will preside over an advanced digital government.

Trump’s vision puts the United States on the path to global cryptocurrency leadership

Central to this transformative administration is Trump himself, whose enduring influence within the Republican Party has been effective despite past controversies. Trump’s endorsement played a crucial role in rallying key figures and securing broad support for the administration’s ambitious digital assets agenda.

His strategic vision focuses on integrating Bitcoin and other cryptocurrencies into the national financial system, with the goal of putting the United States at the forefront of the global digital economy.

Leading cryptocurrency advocacy groups are coming together to form meaningful policy

Christine Smith, CEO Blockchain Associationa Washington, D.C.-based 501(c)(3) non-profit organization dedicated to educating the public and increasing access to blockchain technology, expressed optimism about the administration’s direction.

“President-elect Trump’s vision of making America the crypto capital of the world is a hope shared by the entire cryptocurrency industry — and its founders, developers, and innovators. This can be achieved with the arrival of President-elect Trump in Washington, along with the most pro-crypto Congress in history,” Smith male.

Industry groups propose policy to protect user rights

Amid this political shift, organizations advocating for user rights in the cryptocurrency space are gaining momentum.

Currency positiona 501(c)(4) non-profit organization also based in Washington, D.C., supports individuals’ rights to cryptocurrencies by researching, educating lawmakers, promoting good policy, and taking legal action.

On December 17, 2024, the currency position published A comprehensive analysis of the post-election crypto policy landscape. They have given voice to critical issues threatening open blockchain networks and their users, including unfair prosecutions of non-custodial software developers, abuse of sanctions laws against domestic transactions, threats to cryptocurrency self-custody, and burdensome tax requirements for cryptocurrency users and miners.

To address these challenges, Coin Center supports several legislative measures. One of the most important ones The law of preserving your coinswhich aims to protect Americans’ ability to hold and manage their cryptocurrencies without federal interference, ensuring personal autonomy and privacy.

States are also leading a revolution in digital asset policies

Countries are taking a proactive role in shaping digital asset policies and driving innovation from the ground up.

The Texas Blockchain Council, founded in 2019, has become a pivotal force in the evolving policy landscape. Jessie Gostrey, the council’s director of operations, expressed optimism about the incoming administration:

“We are focused on successfully passing the Bitcoin Strategic Reserve Bill, which will further Texas’ leadership in innovative financial strategies without using taxpayer dollars. At the federal level, we are encouraged by the new administration’s support for this industry. For too long, restrictions, lack of clarity, and federal overreach have forced , American entrepreneurs and innovators are moving out of the country.

The Federal Reserve’s CBDC plans

The ongoing discussions around central bank digital currencies provide an example of the complexities the new administration will need to navigate in terms of maintaining US dollar dominance while simultaneously facilitating the rise of digital assets.

The cryptocurrency industry strongly opposes central bank digital currencies on privacy and control grounds, but some economists and policy experts feel such a system is inevitable. It was the Federal Reserve exploration The potential benefits and risks of CBDCs, and assess whether they can enhance the current secure and efficient US domestic payments system. While no decisions have been made regarding its implementation, the Fed male:

“Depending on the design features of other central bank digital currencies (or foreign currency-denominated stablecoins), there is some potential for erosion of the dollar’s ​​role as a medium of exchange if a U.S. central bank digital currency is not issued or has unattractive design features.”

Cryptocurrency users are awaiting potential policy with the next pro-bitcoin administration

As January 20 approaches, the anticipation within the cryptocurrency community is palpable.

The combination of supportive governance, the world’s most mature financial markets, and ongoing legislative efforts puts the United States in a position to lead the world in digital asset innovation.

This historic shift represents a new chapter in the country’s financial history, and promises greater independence, innovation and security for the US cryptocurrency ecosystem and the general public alike.