Trump’s pro-crypto pledge could see executive orders on day one, industry players hope

The US cryptocurrency industry is anticipating pro-crypto executive orders from the president-elect Donald Trump As soon as his first day in office as a road map, Reuters I mentioned On December 23.

Rebecca Rettig, Chief Legal and Policy Officer at Polygon LaboratoriesHe said:

“Given the tenor of the campaign, it will be essential for executive orders to really lay out the actual priorities on day one and provide some sort of roadmap.”

Trump’s promises to embrace cryptocurrencies and position the United States as a global leader in the sector have sparked excitement among crypto advocates, who see his administration as an opportunity to reverse regulatory measures and foster innovation.

He recently nominated cryptocurrency advocate Stephen Meiran and Bo Haynes to the Economic and Digital Assets Councils. In addition, he chose Trump Another pro-encryption name, Paul AtkinsAs the new head of the US Securities and Exchange Commission (SEC).

Wish List

According to the report, the cryptocurrency sector has identified key priorities that it hopes Trump will address through executive orders. The first is Bitcoin (Bitcoin) Strategic Reserve, which would create a national strategic reserve of BTC worth up to $21 billion.

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According to some analysts, the Bitcoin reserve plan is the executive order least likely to be implemented on day one.

However, even if this were to come true, it would serve as a signal to agency officials rather than have legal force, as federal bank regulators are independent.

Klaros Group Partner, Jonah Kren, assessed:

“(They) will not change the policy on the ground from day one. But they will tell you the direction this administration wants to go.”

Another item on the cryptocurrency industry’s list is making it easier for cryptocurrency companies to access banking services in the United States. The messages were also posted before Coinbase chief legal officer, Paul GrewalThe Federal Deposit Insurance Corporation (FDIC) revealed He was urging the banks To avoid or stop providing encryption-related services.

Regarding this element, and differently from Bitcoin reserves, Crane said he would not be surprised if a broader executive order directing agencies to re-examine their rules in this area is issued on day one.

The final item is the establishment of a coordinating council to promote the growth and regulation of the cryptocurrency industry in the United States. It was the first step nomination to David Sacks To lead crypto and artificial intelligence regulation.

Insiders believe these actions will send a strong signal to the market and reinforce Trump’s pledge to be the “crypto president.” Notably, this would contrast sharply with the president Joe Biden Current administration.

Brian Hughes, a spokesman for Trump’s transition team, said in a statement:

“There have been efforts in the bureaucratic swamp in Washington to stifle innovation…but President Trump will make good on his promise to encourage American leadership in crypto.”

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