US President-elect Donald Trump plans to issue an executive order when he takes office on January 20, 2025, aiming to make cryptocurrencies a strategic national priority, according to informed sources. The details indicate that this decision may include the creation of a cryptocurrency advisory council and directing various government agencies to work together with companies operating in the sector.
The upcoming executive order could also direct all federal agencies to review their policies on cryptocurrencies, potentially putting on hold legal cases against some major companies like Binance and Ripple. The moves come at a time when the cryptocurrency sector is facing significant regulatory challenges under the Biden administration, which has taken legal action against these companies on the grounds that many cryptocurrencies are unregistered securities.
Additionally, the executive order is expected to include the creation of a “strategic bitcoin reserve,” a move aimed at enabling the U.S. government to manage its cryptocurrency holdings, currently estimated at around $20 billion, much of it bitcoin seized as part of criminal investigations.
This initiative comes as part of Trump’s vision to transform the United States into the “cryptocurrency capital of the world,” a pledge he had made during his election campaign. Experts believe that these reforms could help strengthen America’s position in the global cryptocurrency market, and provide a clearer and more regulated environment for companies operating in this sector.
While analysts expect these policies to push the United States to regain its leadership in the field of financial technology, expectations indicate that these steps may restore confidence in the market and enhance investor optimism, especially in light of the volatility witnessed by the digital currency sector.