President-elect Donald Trump is reportedly preparing to elevate cryptocurrency to the forefront of his administration’s agenda through an executive order that could reshape the industry’s regulatory landscape. Sources familiar with the matter suggest the order may label crypto as a national priority and establish frameworks for greater collaboration between government agencies and the sector.
The executive order, which could be unveiled as early as January 20, is expected to name cryptocurrency a strategic imperative. This classification would encourage federal agencies to actively engage with the industry and align policies to foster its growth. Central to the proposed order is the formation of a crypto advisory council, giving industry insiders a formal platform to advocate for policy priorities.
A New Era for Crypto Regulation
The anticipated shift marks a stark departure from the regulatory stance during Joe Biden’s presidency, which saw extensive investigations and enforcement actions targeting crypto. High-profile cases, such as the collapse of FTX, prompted federal agencies, including the Securities and Exchange Commission (SEC), to file over 100 enforcement actions against crypto companies.
Banking regulators also imposed stringent measures, complicating financial institutions’ dealings with the crypto sector. Trump’s executive order may direct all government agencies to review existing policies on digital assets and consider pausing litigation against companies like Binance and Ripple Labs.
According to insiders, the order could also propose the creation of a national Bitcoin stockpile, consolidating the government’s existing holdings, valued at nearly $20 billion, into a strategic reserve. The idea has gained traction within the industry as a signal of institutional support for cryptocurrency.
Market Anticipation Fuels Bitcoin Rally
Bitcoin has rallied by nearly 50% since Trump’s November 2024 election victory, surpassing $100,000 amid optimism surrounding his crypto-friendly policies. The cryptocurrency’s value more than doubled in 2024, driven by the prospect of regulatory clarity and institutional adoption.
“What I think Donald Trump is going to do is signal that the United States is back, and we are ready to lead in this industry,” said Kara Calvert, vice-president for US policy at Coinbase Global. “What it’s signalling to other countries is: Be careful, or you won’t keep up.”
A Transformative Opportunity for the Sector
Despite regulatory hurdles under Biden, the US crypto industry witnessed significant growth in 2024. Major financial players, including BlackRock and Bank of New York Mellon, launched cryptocurrency-related services, while Cantor Fitzgerald announced plans to enter the Bitcoin financing space.
Trump’s support for cryptocurrency was evident during his 2024 campaign, where he pledged to make the US the “crypto capital of the world.” In July, he headlined a Bitcoin conference, emphasizing his commitment to fostering innovation and adoption.
The industry’s robust backing for Trump’s presidency has been reflected in donations from major companies like Coinbase and Ripple to his inaugural committee. Trump’s proposed executive order, if enacted, could set the stage for a transformative chapter in the relationship between the US government and the cryptocurrency sector.