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US Crypto Industry Eyes Trump’s Day-One Executive Orders
As President-elect Donald Trump prepares to take office on January 20, 2025, the cryptocurrency industry is eagerly anticipating his promised crypto policy overhaul. Insiders are hopeful that he will use his first day in office to issue a series of executive orders that would significantly reshape the regulatory landscape for cryptocurrencies.
Industry stakeholders are urging Trump to deliver on his campaign promise by signing executive orders that would introduce key changes to the industry’s structure. The primary goals are clear: creating a national Bitcoin stockpile, providing easier access to banking services for crypto companies, and establishing a dedicated crypto council to ensure smooth industry operations.
One of the most anticipated changes is Trump’s proposed Bitcoin stockpile. The idea of creating a strategic reserve of Bitcoin has been gaining traction, with industry groups like the Bitcoin Policy Institute drafting a potential executive order to make this a reality. According to Zack Shapiro, head of policy at the institute, this initiative would ensure the US takes its rightful place as a global leader in the cryptocurrency space, countering the rise of rival nations like China and Russia, which have also been exploring state-backed crypto reserves.
Crypto companies have long struggled to gain access to banking services due to regulatory concerns. Trump’s campaign rhetoric suggested he would take action to address these challenges. Crypto executives are hopeful that one of the first executive orders will ease restrictions on banks, allowing them to work with crypto firms more freely. While some experts warn that an executive order may not immediately change federal bank regulators’ stance, it would provide important political cover for banks considering partnerships with crypto companies.
Another major expectation from the crypto industry is the creation of a crypto council. Similar to past administrations’ creation of specialized councils for specific industries, this council would focus on issues related to cryptocurrency, helping shape regulatory frameworks and streamline industry development. The council would provide a platform for stakeholders to collaborate with the government on the future of crypto regulations.
In his efforts to modernize the financial system, Trump may look to implement an executive order urging agencies to review and update their rules to better suit the rapidly evolving crypto industry. According to financial expert Jonah Krane, it is possible that Trump will issue a directive urging agencies to revisit and redefine existing crypto regulations. This move would provide a clearer regulatory environment for crypto firms to operate in, potentially fostering greater innovation and investment.
The cryptocurrency industry remains optimistic about the potential for regulatory changes under a Trump administration. However, some executives caution that immediate, sweeping changes may be unlikely, as many regulations are shaped by independent agencies. Nevertheless, Trump’s administration could provide essential direction on crypto regulations and offer a roadmap for future legislative efforts.
In the coming months, the crypto community will be closely watching as President Trump takes office and begins to fulfill his promises of becoming a champion for digital currencies. The anticipation surrounding potential executive orders on day one is high, and many within the industry hope that Trump will make good on his campaign commitment to position the US as a leader in the global crypto space.
In conclusion, the cryptocurrency industry remains hopeful that President-elect Donald Trump will use his first day in office to issue a series of executive orders that would significantly reshape the regulatory landscape for cryptocurrencies.
Source: cryptocurrencynews.com
