President-elect Donald Trump plans to prioritize cryptocurrency as a national policy, with proposed executive orders addressing de-banking, crypto regulations, and the creation of a Bitcoin reserve.
A story from Bloomberg says that President-elect Donald Trump wants to make cryptocurrency a “National Priority” policy as soon as he takes office. The new administration also wants to make a crypto advisory council so that people who work in the business can have a say in how the government runs.
Since he ran for office, the new president has been a strong supporter of the crypto business, and experts in the field think that will continue after he takes office.
A lot of experts think that Trump will issue executive orders on the first day of his presidency that might deal with cryptocurrency problems. De-banking and getting rid of a controversial crypto accounting rule that said banks that held digital assets had to list them as liabilities on their own balance sheets are two of these problems.
Donald Trump Gives the cryptocurrency More Attention
The most clear sign yet that Trump thinks the crypto business is important to the US economy is his plan to make it a “national priority.” Bloomberg sources say that a directive for all government agencies to review policies about digital assets and possibly pause any lawsuits involving crypto is still being talked about as something that could be added to the executive order.
Setting up a Bitcoin reserve could be another important part of the payment. Donald Trump supports setting up this reserve with Bitcoin that has been taken so that the country has another way to pay off its debt.
A plan to make Bitcoin a strategic backup asset has already been written by the Bitcoin Policy Institute. It would take a year of investments worth $21 billion.
According to the analytics company Arkham, the US government currently has almost $20 billion worth of Bitcoin that was taken away as part of different probes. Bitcoin has gone up 44% since the election, to almost $100,000. One reason for this is the hope that such a store will be made.
“President Trump will keep his promise to support American leadership in crypto,” said Brian Hughes, a spokesman for Trump’s transition team.
A story from the New York Post says that the President-elect is also considering making a strategic reserve for cryptocurrencies such as Solana (SOL) and XRP, in addition to Bitcoin.
Cryptocurrencies like BTC, SOL, XRP, and other altcoins are likely to rise even more in the days to come because of the news. Bitcoin is already slowly making its way back up to $100,000, and Solana is getting closer to a new all-time high that will happen in the next month.
