President-elect Donald Trump is expected to issue executive orders related to crypto policies on his first day in office, according to a Washington Post report. The incoming president has been a strong supporter of the crypto industry since his campaign, and experts in the industry expect that to continue upon his inauguration.
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According to The Washington Post, members of the Trump transition team have been working closely with crypto leaders to finalize a legislative strategy. These members expect Trump to issue executive orders on the first day of his presidency that may address issues relating to cryptocurrency. Among these issues include de-banking and the repeal of a controversial crypto accounting policy requiring banks holding digital assets to count them as liabilities on the bank’s own balance sheet, according to the report.
Revised Crypto Policy a “Priority” for Donald Trump’s First Day in Charge
“The Trump team has made it very clear that this is a priority,” a source told The Washington Post. These incoming executive actions target crypto regulations and aim to shield cryptocurrency investors from what Trump labels the “Washington bureaucratic swamp.” Several of his picks for cabinet and other roles are also crypto supporters, including the newest Chair of the SEC Paul Atkins. The crypto and tech-friendly picks — who will operate at the White House, Pentagon, Health and Human Services, and other agencies — could provide direct points of contact for venture capitalists and tech executives.
“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,” says Jonah Krane, partner at Klaros Group. These shifts address market volatility crypto issues while creating a supportive framework. The US crypto industry expects growth under these new rules, with cryptocurrency investors gaining stronger institutional backing.
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One of Trump’s most anticipated crypto orders expected to come is a national Bitcoin reserve. The Bitcoin Policy Institute has drafted an order to make Bitcoin a strategic reserve asset. It would require $21 billion in investment over one year. “President Trump will deliver on his promise to encourage American leadership in crypto,” stated Trump transition team spokesperson Brian Hughes.
Despite a recent dip, there is a possibility that the cryptocurrency market will recover after Trump assumes office. Donald Trump’s pro-crypto stance and policy may lead to a market-wide resurgence.
