- An industry group, the Bitcoin Policy Institute, has gone concerning to draft a text of a probable executive order Trump could utilize to set up such a stockpile.
- Concerned about crime and volatility, the regulators of President Joe Biden clamped down on crypto companies.
- Bitcoin went over $107,000 in December 2024 after Trump recapitulated his plan, first revealed in a speech in July.
The crypto industry is nudging the team of the newly elected president, Donald Trump to stimulate his promised crypto policy service when he takes charge of the office next month with executive orders that would help push token mainstream, as revealed by the industry executives.
Trump has a plan to provide a whirl of executive orders and instructions on everything from immigration to energy on the day the President will join the office, i.e., January 20, as reported by Reuters.
At the time of the campaign, Trump ran after crypto cash with guarantees to be a crypto president and the industry wishes him to make good on that promise with executive orders making a bitcoin stockpile, making sure the industry can acquire banking services, and making a crypto council, the people revealed.
Crime and volatility concerns
They are forcing for those official orders within Trump’s first 100 days in office, and anticipate at least one could come on January 20, said two other people with knowledge of the matter.
The chief legal and policy officer at Polygon Labs, Rebecca Rettig revealed that given the aim of the campaign, it would be vitally important for executive orders to actually set out what the real priorities will be on day one and offer some kind of Roadmap.
Concerned about crime and volatility, the regulators of President Joe Biden clamped down on crypto companies, but Trump has guaranteed to reverse course. His crypto policy team is so far taking an appearance, with the announcement this month of crypto-friendly Securities and Exchange Commission chairman Paul Atkins.
What did the spokesperson say?
The spokesperson of the Trump transition team, Brian Hughes mentioned in a statement that there has been an attempt in the Washington bureaucratic swamp to strangle revolution but President Trump will convey his promise to boost American leadership in crypto.
Bitcoin went over $107,000 in December 2024 after Trump recapitulated his plan, first revealed in a speech in July, for a strategic bitcoin reserve. After that, Bitcoin has gone below $100,000. Experts are split on whether Trump could utilize official powers to make the reserve, possibly by the Treasury Department or an act of Congress would be compulsory.
An industry group, the Bitcoin Policy Institute, has gone concerning to draft a text of a probable executive order Trump could utilize to set up such a stockpile.
