The cryptocurrency industry is urging President-elect Donald Trump to deliver on his campaign promises by initiating a series of executive orders aimed at propelling digital assets into the mainstream. Industry leaders hope these measures, expected within Trump’s first 100 days in office, will set the tone for a more favorable crypto regulatory environment.
Trump, who will take office on Jan. 20, has outlined plans for sweeping executive actions on issues ranging from energy policy to immigration. Among these, the crypto sector is lobbying for directives to establish a strategic bitcoin reserve, ensure access to banking services for digital asset companies, and create a dedicated cryptocurrency council.
“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,” said Rebecca Rettig, chief legal and policy officer at Polygon Labs, a prominent crypto company.
Industry Push for Immediate Action
According to insiders, the industry is confident that at least one crypto-related executive order could be signed on Inauguration Day. Trump’s promises to be a “crypto president” during his campaign have fueled expectations for a significant policy shift.
Brian Hughes, spokesperson for Trump’s transition team, underscored the administration’s commitment to fostering innovation. “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,” Hughes stated.
The contrast between Trump’s approach and that of the outgoing administration is stark. President Joe Biden’s regulators implemented stringent measures against the crypto sector, citing concerns over crime and market volatility. Trump has pledged to reverse these policies, signaling a more lenient stance.
Strategic Bitcoin Reserve and Policy Team
A notable element of Trump’s crypto agenda is the proposed creation of a strategic bitcoin reserve, an idea he first unveiled during a speech in July. Bitcoin, the world’s leading cryptocurrency, hit record highs of over $107,000 earlier this month following renewed enthusiasm for the plan. However, the cryptocurrency has since dipped below $100,000, reflecting the market’s inherent volatility.
The president-elect’s crypto policy team is already taking shape. This month, Trump named Paul Atkins, a crypto-friendly figure, as Chair of the Securities and Exchange Commission (SEC), and David Sacks as the White House crypto czar. These appointments signal a clear shift toward a more accommodating regulatory framework for digital assets.
As the inauguration approaches, the cryptocurrency industry is poised for a potential transformation under Trump’s leadership, with advocates anticipating a new era of innovation and growth.
