Donald Trump, the president-elect of the United States, is set to undertake a major initiative to reform the country’s stance on cryptocurrency. Reports suggest he is considering signing a decree after taking office on January 20. The goal is to prioritize digital assets nationally.
A shift towards innovation
This is a stark change from the previous administration’s stance, which was often described as hesitant or restrictive towards the crypto sector. The Trump administration has shown interest in digital currencies, indicating that they are ready to embrace innovation in fintech. This could be the stepping stone towards more defined regulations and increased cooperation between the government and the cryptocurrency industry.
A tip for crypto policy
Discussions and proposals include the creation of a dedicated body that would solely defend the interests of crypto. Ideally, this organization would have the role of bringing the world of regulators closer to the views of market participants, ensuring that these policies are also balanced and offer support for economic growth. And in doing so, the administration is trying to create a non-hostile ecosystem for businesses and investors alike.
President-elect Donald Trump plans to issue an executive order making crypto a policy priority and giving industry insiders a voice within his administration, according to people familiar with the plan.
– Stars and Stripes (@starsandstripes) January 17, 2025
BTCUSD trading at $101,432 on the daily chart: TradingView.com
The signature
Sources say Trump could sign the order on January 20, his first day in office. It could also put a stop to any crypto cases that are still in progress and require all government groups to rethink their stance on digital currencies.
Market Reactions and Bitcoin Reserve
Most market reactions have been very positive to the latest developments. Even after the news was announced, the price of Bitcoin soared to $102,000, proving that investors are gradually becoming optimistic about the future of crypto under the new government. Analysts say this trend could continue as information about Trump’s plans comes in.
US government's total bitcoin holdings. Source: Arkham Intelligence
There are also proposals to create a national Bitcoin reserve. The fact that the American government has more $20 billion in cryptocurrency assets seized could be proof that he wants to use digital assets for the long term.
A promising future for crypto
The United States will have a huge chance to consolidate its place as a global leader in cryptocurrencies thanks to Trump’s plan. The government can make the most of digital assets by promoting new ideas, streamlining rules and attracting investments.
Featured image of Chairman of the Joint Chiefs of Staff, chart from TradingView
