Trump Plans to Make Crypto a National Priority: Details

President-elect Donald Trump , according to Bloomberg, is preparing to issue an executive order to prioritize cryptocurrency as a national policy priority.

Set to be unveiled after his inauguration on January 20, the order will establish crypto as a strategic sector for the U.S. government. This move is expected to open doors for industry insiders to play a more significant role in shaping policy. 

According to sources familiar with the plans, the order will also include the creation of a crypto advisory council to advocate for the sector’s interests within the administration.

Breaking Away from Biden’s Crypto Scrutiny

This executive order represents a transition from the Biden administration’s approach to cryptocurrency. Over the past few years, the sector has faced significant regulatory challenges.

However, the scrutiny gained momentum following high-profile cases such as the collapse of the FTX exchange. The Securities and Exchange Commission has filed over 100 enforcement actions against crypto companies. Meanwhile, banking regulators have made it increasingly difficult for crypto firms to operate within traditional financial systems. 

Trump’s executive order could change the landscape by pausing ongoing litigation involving major players like Binance and Ripple Labs . This shift aims to create a more favorable environment for crypto companies to thrive in the U.S. market.

We are on twitter, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

US Crypto Holdings and Future Plans

The executive order will also include plans for a national Bitcoin reserve . The U.S. government currently holds nearly $20 billion worth of Bitcoin, seized during various investigations. The sources say the government is considering formalizing these holdings into a national reserve. 

This would reflect a growing acceptance of digital assets within the government’s financial framework.

Meanwhile, Trump’s administration is also willing to create an America-first strategic reserve prioritizing cryptocurrencies developed within the United States over those originating offshore. This initiative could benefit U.S.-based digital assets such as Solana, XRP, and USDC.

The reforms and considerations expected under the incoming administration have garnered significant international attention. In particular, it prompts companies to explore opportunities to enter the U.S. market. TON Foundation, which is closely linked to Telegram Messenger, is one such example.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

Follow us on Twitter , Facebook , Telegram , and Google News