The cryptocurrency sector is eagerly anticipating a series of executive orders from President-elect Donald Trump, aimed at fulfilling his campaign promises to support the digital asset industry. Industry officials are urging Trump’s team to prioritize crypto-related policies within the first 100 days of his presidency, marking a potential turning point for the sector.
According to insiders, Trump’s administration plans to issue executive orders and directives addressing various policy areas on his first day in office, January 20. Among these, the crypto industry hopes to see measures that would mainstream digital assets, establish a strategic bitcoin reserve, ensure access to banking services, and create a dedicated crypto council.
Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs, emphasized the importance of clear, immediate actions to outline the administration’s priorities. “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 road map,” Rettig stated.
A Shift in Regulatory Approach
The anticipated shift in crypto policy comes as a stark contrast to President Joe Biden’s administration, which implemented stringent regulatory measures targeting crypto companies due to concerns over crime and market volatility. Trump, however, has pledged to reverse these policies, with his campaign touting him as a “crypto president.”
Trump’s crypto policy team is already taking shape, with appointments such as crypto-friendly former SEC Chair Paul Atkins and David Sacks as White House crypto czar. Transition team spokesperson Brian Hughes expressed optimism about Trump’s approach, stating, “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.”
Bitcoin’s Strategic Reserve Plan
The crypto community’s excitement was amplified by Trump’s July announcement of a strategic bitcoin reserve. Bitcoin, the largest cryptocurrency by market capitalization, surged to record highs above $107,000 earlier this month following Trump’s reiteration of this plan. However, the price has since retreated below $100,000.
While the proposal for a bitcoin reserve has garnered attention, analysts remain divided on its feasibility. Some suggest the plan could be executed through the Treasury Department under executive authority, while others believe it would require Congressional approval.
As the inauguration approaches, the crypto industry remains optimistic that the incoming administration will deliver on its promises, potentially ushering in a new era of regulatory clarity and mainstream adoption for digital assets.
