Donald Trump Plans to Make Cryptocurrency a National Priority
Date: 2025-01-17 Author: Oliver Abernathy Categories: IN WORLD
The order is expected to create a cryptocurrency advisory board and instruct government agencies to work closely with the industry. According to Bloomberg, the document could be signed as early as January 20.
The order considers conducting a review of all existing federal policies regarding cryptocurrencies. The prospect of suspending ongoing lawsuits against major market players is also being discussed.
As crypto.news previously reported, these changes could be initiated by the new SEC leadership led by crypto advocate Paul Atkins. The Biden administration, in turn, has been actively pursuing cases against companies like Binance and Ripple, arguing that many cryptocurrencies fall under the definition of securities under the Howey test.
Such actions and the lack of a clear regulatory framework created difficulties for crypto companies to operate in the United States, forcing them to seek more favorable jurisdictions abroad.
Additionally, sources reported that the decree may provide for the creation of a strategic Bitcoin reserve. This will allow the US government to consolidate and manage its crypto assets, which, according to reports, amount to about $20 billion, mainly in Bitcoin confiscated during investigations.
During his campaign, Trump stated his desire to turn the United States into a global center for cryptocurrencies. The creation of a reserve is considered a tool for protecting against inflation and reducing the national debt.
Amid news of a possible decree, Bitcoin has regained its value above $100,000. This is due to expectations of changes in regulation that will contribute to the development of the crypto industry.
However, sources note that the text of the decree is not yet final and may be revised before its publication.
Market experts believe that such measures will allow the United States to regain leadership in the cryptocurrency field. Coinbase Vice President of US Policy Kara Calvert stressed that this would send a signal to other countries: “Be careful, otherwise you won’t be able to keep up with us.” Trump is also reportedly considering an “America-first” strategy for the crypto reserve, which would focus on supporting US-created digital assets such as Solana, USD Coin (USDC), and Ripple (XRP).
