Since taking office in 2025, Trump has shown clear support for the cryptocurrency industry, with his policies inclined towards making the U.S. a leader in global cryptocurrency. Based on his current actions and public statements, as well as developments in the cryptocurrency industry, we can speculate on potential future policy directions he may implement. Review of implemented policies: Trump has already taken some important measures:

  • Strategic Bitcoin reserves and digital asset reserves: On March 7, 2025, Trump signed an executive order to create a strategic Bitcoin reserve, viewing Bitcoin as a reserve asset, and plans to use Bitcoin seized by the Justice Department as a reserve base while prohibiting the sale of these assets to maintain their value.

  • Digital Asset Working Group: On January 23, 2025, he established the Digital Asset Working Group through another executive order, aimed at developing a new regulatory framework and exploring the possibility of a national digital asset reserve, with the goal of making the U.S. the 'Crypto Capital of the World.'

  • Deregulation: The Trump administration has rescinded some cryptocurrency regulatory policies from the Biden era, such as the SEC's investigations and lawsuits against several cryptocurrency companies being dropped, and the Justice Department announced it would reduce investigations into cryptocurrency fraud, instead focusing on other areas like immigration and drug trafficking.

Potential future policy directions

Based on Trump's existing policies and the needs of the cryptocurrency industry, here are potential policy directions he may pursue further:

  1. Clearer regulatory framework
    Trump has committed to providing clearer rules for the cryptocurrency industry. His Digital Asset Working Group has been tasked with proposing a regulatory framework within 180 days. Possible future policies include:

    • Clearly defining the classification of cryptocurrencies (for example, which tokens are considered securities or commodities), which may be achieved through legislation such as the Financial Innovation and Technology Act (FIT21), which has passed in the House.

    • Relaxing restrictions on banking services for cryptocurrency companies, addressing the industry's long-standing exclusion from the traditional financial system.

  2. Expanding the scale and scope of strategic reserves
    Trump has announced that reserves will include Bitcoin, Ethereum, XRP, Solana, and Cardano. In the future, he may:

    • Increase the scale of government purchases of cryptocurrencies, especially through means other than asset seizure (although he currently prefers not to use taxpayer money directly for purchases).

    • Incorporate more types of cryptocurrencies into reserves to further stimulate market confidence and price increases.

  3. Tax and tariff incentives
    Trump has signed an executive order for zero tariffs on cryptocurrencies. Possible future actions:

    • Introduce tax relief policies for cryptocurrency transactions, such as lowering capital gains taxes to encourage more investors to participate.

    • Prevent the IRS from imposing strict tax reporting requirements on cryptocurrency brokers (he has signed a bill to block similar regulations).

  4. Promote the development of decentralized finance (DeFi)
    The Trump family's cryptocurrency company, World Liberty Financial, focuses on DeFi, aiming to allow ordinary people to access financial services directly through cryptocurrencies. He may:

    • Introduce policies to support the development of DeFi platforms, such as simplifying compliance requirements or providing government-backed pilot projects.

    • Promote the development of USD-backed stablecoins (he has expressed support for USD-backed stablecoins) to enhance the dollar's dominant position in the global digital economy.

  5. Enhance international competitiveness
    Trump's goal is to make the U.S. a global leader in the cryptocurrency industry. Possible policies include:

    • Collaborating with allies to establish international cryptocurrency standards to prevent other countries (such as China) from dominating the digital asset space.

    • Attract global cryptocurrency companies to relocate their headquarters to the U.S., possibly through tax incentives or streamlined visa processes.

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