On January 20, he plans to issue an executive order that will elevate the status of cryptocurrencies in U.S. policyThe elected President of the United States, Donald Trump, intends to issue an executive order elevating cryptocurrencies to a priority in policy and giving industry representatives a voice in his administration, according to Bloomberg sources.
According to the agency, crypto assets will become a national priority. This status calls for government agencies to collaborate with the industry. The creation of a cryptocurrency advisory council is also planned to advocate for the industry's political priorities.
Trump enjoys strong support in the crypto sector due to his promises to fire SEC Chair Gary Gensler, create a strategic Bitcoin reserve, and generally be loyal to the industry. Several major players in the digital asset ecosystem have made significant donations to the elected president's inauguration fund.
The order marks a shift in attitude towards the crypto sector, which has faced persecution in recent years. The SEC has filed over 100 lawsuits against cryptocurrency-related companies, and banking regulators have complicated their operations with traditional financial institutions.
According to Bloomberg, discussions are currently ongoing regarding including directives in the order that would require all federal agencies to review their policies on digital assets and possibly suspend legal actions.
On January 15, it became known that the SEC under Donald Trump's administration may review lawsuits against cryptocurrency companies in the early days and even withdraw some that are currently under consideration. Initial initiatives in the U.S. after Trump's inauguration may address "debanking" industry companies and accounting rules for digital assets (SAB 121). The creation of a national reserve of the first cryptocurrency is also being explored.
The document could appear on the day of the president's inauguration on January 20; however, the current version i#TRUMPOnBinanceFutures s not final.