Trump Plans to Make Crypto a National Priority with Executive Order: Report

Donald Trump, set to re-enter office on Jan. 20, is reportedly preparing to sign an executive order that would designate cryptocurrency as a national priority. According to Bloomberg, the order is expected to guide regulatory agencies to collaborate with the crypto industry and could create a dedicated crypto council to advocate for the industry’s policy needs.

This move, which could be signed on Trump’s first day back in office, reflects his campaign promises to position the U.S. as a global “crypto capital.” However, the plans are still under discussion and may change before being finalized.

The potential executive order has reportedly involved input from crypto leaders, including discussions with Trump’s crypto czar, David Sacks. Policy areas under consideration include crypto de-banking and the repeal of a controversial bank accounting rule that classifies digital assets as liabilities.

There’s also speculation that Trump’s administration may direct government agencies to review their crypto policies, freeze ongoing litigation, and possibly establish a government reserve of Bitcoin. Advocates argue that holding Bitcoin could act as an inflation hedge and help reduce national debt. Currently, the U.S. holds around $20.3 billion worth of seized cryptocurrencies, most of which is Bitcoin.

Under the new administration, the Securities and Exchange Commission (SEC) could also adopt a more favorable stance toward crypto. Industry leaders, including Ripple Labs’ legal team, expect ongoing cases to be paused or dropped, particularly those without fraud allegations.

The crypto community has largely welcomed the possibility of this executive order, seeing it as a significant step toward mainstream acceptance and innovation in the industry. However, the exact details and implications of the plan remain to be seen.