Donald Trump to Sign Cryptocurrency Executive Orders on Inauguration Day
Date: 2025-01-15 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
The first steps of the new administration will be aimed at eliminating problems associated with the restriction of banking services for cryptocurrency companies, as well as revising the current system for recording digital assets. According to The Washington Post, Trump's team sees this task as a priority.
Currently, banks are required to record cryptocurrencies as liabilities in their financial statements. However, the new administration considers this approach outdated and intends to revise this policy.
Criticism of the current Biden administration has repeatedly been heard from representatives of the cryptocurrency sector. Companies have accused the White House of creating artificial barriers that limit access to financial services. This topic has been especially hotly debated after the Securities and Exchange Commission (SEC) introduced rules in the spring of 2022 requiring companies to record digital assets as liabilities.
Reuters reports that the crypto community is actively lobbying for changes in the first 100 days of Trump's presidency. They believe that such orders will help the industry develop by providing more stable access to banking services and simplifying regulatory compliance. However, experts emphasize that the implementation of these initiatives may face obstacles in Congress. Bureaucratic procedures and resistance from certain groups of parliamentarians can slow down the process, despite the determination of the new administration.
