Trump to Prioritize Cryptocurrency with Executive Order, Sparking Industry Optimism
President-elect Donald Trump is set to make cryptocurrency a national priority through a groundbreaking executive order, signaling a new chapter for the digital asset industry in the United States. The order, expected to be unveiled soon, aims to elevate crypto as a strategic focus and establish direct collaboration between government agencies and industry leaders.
A Strategic Move for U.S. Crypto Leadership
According to sources familiar with the plans, the executive order will designate cryptocurrency as a national imperative, urging federal agencies to work closely with the industry. Central to the order is the creation of a crypto advisory council, designed to advocate for policies that align with the sector's priorities and foster innovation.
This marks a dramatic shift from the Biden administration's enforcement-heavy stance, which saw over 100 regulatory actions against crypto firms, including high-profile cases targeting Binance and Ripple Labs. Trump's approach, by contrast, seeks to position the U.S. as a global leader in digital assets.
A National Bitcoin Reserve Under Consideration
One bold aspect of the proposed order is the potential establishment of a national Bitcoin reserve. This initiative would leverage the U.S. government’s existing holdings, which total nearly $20 billion in confiscated Bitcoin. The idea has already fueled optimism in the market, with Bitcoin prices surging above $100,000 following Trump’s election victory.
The executive order may also direct federal agencies to review existing crypto-related policies and potentially pause ongoing litigation against companies in the sector. Such measures are being closely watched by the industry, which has long criticized regulatory hurdles as stifling innovation.
Crypto Industry Rallies Behind Trump
Trump’s pro-crypto stance has earned him strong support from industry heavyweights, including Coinbase and Ripple, both of which contributed to his inaugural committee. The industry is celebrating his return to office with an “Inaugural Crypto Ball” just days before his swearing-in, reflecting the high hopes surrounding his administration.
Kara Calvert, Vice President of U.S. Policy at Coinbase, highlighted the broader implications of Trump’s move: “What I think Donald Trump is going to do is signal that the United States is back and we are ready to lead in this industry. What it’s signaling to other countries is be careful, or you won’t keep up.”
A Boost for Institutional Adoption
Despite regulatory challenges during the Biden administration, crypto has continued to gain traction in the U.S. Major financial players like BlackRock, BNY Mellon, and Cantor Fitzgerald have launched crypto-focused products, including Bitcoin exchange-traded funds and custody solutions. These developments underscore the growing institutional confidence in digital assets.
Trump’s commitment to making the U.S. the "crypto capital of the world" aligns with this momentum. During his campaign, he headlined a Bitcoin conference and touted plans for World Liberty Financial, a crypto initiative aimed at enabling earning and borrowing in digital currencies.