Donald Trump plans to declare cryptocurrencies a national priority, Bloomberg sources report.
This will be outlined in an executive order aimed at directing the attention of government agencies towards the sector. The initiative includes the creation of a Cryptocurrency Advisory Council, which will determine the key priorities of cryptocurrency policy. The directive may also halt ongoing legal proceedings related to cryptocurrencies and could establish the goal of creating a national Bitcoin reserve.
If the advisory council is formed, it will include around 20 representatives from the cryptocurrency industry. One of the key measures could involve repealing a rule that requires companies holding cryptocurrencies to list them as liabilities on their balance sheets, which
complicates accounting. This change would facilitate crypto companies' access to the banking system.
The U.S. Secretary of State may also be tasked with fostering international collaboration in crypto innovation.
Unlike previous government efforts, which focused on regulating cryptocurrencies, this directive indicates a shift towards promoting their growth. The establishment in 2021 of a task force within the Department of Justice, for example, aimed to prosecute crimes related to cryptocurrencies. This new directive, however, would emphasize development over control.
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