Day-1 Crypto Executive Orders? Bitcoin Bulls Brace for Trump’s Big Move

CN
1天前

U.S. President-elect Donald Trump is expected to move swiftly on cryptocurrency initiatives, with industry leaders urging his administration to issue executive orders that would push digital assets into the mainstream, Reuters reported Monday. According to industry officials, these measures could be enacted as early as Jan. 20, aligning with broader first-day plans that span immigration and energy policies.

Trump’s campaign promises to champion the crypto industry have raised expectations for executive actions focused on building a national bitcoin reserve, expanding banking services for crypto firms, and establishing a dedicated crypto council. Rebecca Rettig, chief legal and policy officer at Polygon Labs, stressed the importance of early action, telling the news outlet:

Given the tenor of the campaign, it would be imperative for executive orders to really set out what the actual priorities will be on day one and provide some kind of roadmap.

Trump has appointed pro-cryptocurrency figures to key positions, signaling a supportive stance toward digital assets. Paul Atkins, a former SEC commissioner known for advocating reduced regulatory burdens, has been nominated to chair the Securities and Exchange Commission (SEC). Additionally, venture capitalist David Sacks has been named as the White House AI and Crypto Czar, a newly created role aimed at developing a clear legal framework for the cryptocurrency industry. These appointments suggest a potential shift toward more industry-friendly regulations, aligning with Trump’s campaign promises to support the mainstream adoption of cryptocurrencies.

Brian Hughes, a spokesperson for Trump’s transition team, reinforced this direction, emphasizing: “There has been an effort in the Washington bureaucratic swamp to stifle innovation… but President Trump will deliver on his promise to encourage American leadership in crypto.”

The President-elect’s proposal to establish a U.S. Strategic Bitcoin Reserve has garnered significant attention, aiming to position the U.S. as a leader in cryptocurrency adoption. The plan involves the U.S. Treasury acquiring substantial amounts of bitcoin, potentially utilizing assets seized from criminal activities. Proponents argue that such a reserve could serve as a hedge against economic instability and strengthen the U.S. dollar’s position in global finance. However, critics highlight challenges, including bitcoin’s price volatility and the complexities of integrating a decentralized digital asset into national reserves.

Bitcoin surged to an all-time high after Trump’s July proposal for a strategic reserve but later stabilized below $100,000. The Bitcoin Policy Institute has drafted a possible executive order directing the U.S. Treasury to invest in bitcoin as a reserve asset. Zack Shapiro, head of policy at the institute, explained the importance of this move, noting the U.S. should get ahead of geopolitical rivals in monetizing bitcoin, “rather than have the price run up without the United States having any reserves.”

Potential executive orders on banking access for crypto firms may face limits due to regulatory independence, but industry leaders view them as a clear signal of the administration’s priorities. Jonah Krane, a partner at Klaros Group, said policy changes won’t happen immediately but will signal the administration’s direction. He added:

I wouldn’t be surprised if you get something like an executive order early on that directs the agencies to re-examine their rules in this space.

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