The US cryptocurrency sector is eagerly anticipating President-elect Donald Trump’s inauguration next month, urging his administration to implement swift executive actions to jumpstart his campaign promises of making the nation more crypto-friendly. Industry leaders believe this could be a pivotal moment for digital assets to gain broader acceptance.
Throughout his campaign, Trump pledged to become a “crypto president,” vowing to champion policies that would push digital currencies into the mainstream. Industry insiders are now pressing for immediate action once Trump assumes office on January 20, 2025, including executive orders establishing a bitcoin reserve, guaranteeing access to banking services for crypto firms, and forming a dedicated cryptocurrency council.
Rebecca Rettig, chief legal and policy officer at Polygon Labs, emphasized the importance of early, decisive action. “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,” she said.
According to sources familiar with the discussions, the industry is advocating for significant progress within Trump’s first 100 days in office, with at least one executive order potentially set for release on Inauguration Day.
A Shift from Regulatory Crackdowns
The Trump administration’s approach is expected to mark a stark departure from the stringent regulatory measures seen under President Joe Biden. Biden’s tenure was characterized by heightened scrutiny of the crypto sector, with regulators citing concerns over crime, market volatility, and investor protection.
Trump, however, has promised to take a more supportive stance, signaling a shift that has buoyed industry optimism. His transition team has already unveiled key appointments, including cryptofriendly Paul Atkins as Chair of the Securities and Exchange Commission and David Sacks as the White House’s dedicated “crypto czar.”
Industry Eyes Transformative Policy Moves
As Trump prepares to take the helm, the crypto industry views this moment as an unprecedented opportunity to reshape the digital asset landscape in the United States. Advocates argue that clear, supportive policies could not only bolster the domestic industry but also solidify the US as a global leader in cryptocurrency innovation.
While Trump’s promises have energized the sector, the road ahead remains uncertain. However, with the president-elect’s history of bold executive actions, industry players remain hopeful that his administration will follow through on its commitments to prioritize cryptocurrency development.
The spotlight now turns to January 20, when Trump will officially take office and potentially reveal his administration’s first steps toward fulfilling his vision of a crypto-friendly America.
