Trump’s bold crypto play: National priority status
Executive order may pause lawsuits, create advisory council, and build Bitcoin reserve
President-elect Donald Trump is set to redefine the US government’s approach to cryptocurrency, with plans for an executive order that would elevate digital assets as a national priority. The order, expected as early as Monday—his first day back in office—aims to foster collaboration between regulators and the crypto industry, according to insiders.
The move could signal a dramatic departure from the Biden administration’s more stringent stance, which saw more than 100 enforcement actions against crypto firms by agencies like the Securities and Exchange Commission (SEC). Trump’s directive may include creating a crypto advisory council to advocate for industry-friendly policies, pausing ongoing litigation, and guiding federal agencies to support the sector.
Reports suggest the administration is also considering establishing a national Bitcoin reserve. The US government already holds nearly $20 billion in Bitcoin, largely confiscated through investigations. The creation of a reserve aligns with broader industry hopes that Trump’s return could solidify the nation’s leadership in the crypto space.
These potential policy shifts come amid strong support for Trump from the crypto community, including substantial donations to his inaugural committee. Major players like Coinbase and Ripple have expressed optimism about the incoming administration’s plans. Kara Calvert, Coinbase’s VP of US policy, stated, “This signals that the United States is ready to lead in this industry.”
Trump’s relationship with crypto has deepened over time. He headlined a Bitcoin conference during his campaign and has repeatedly promised to make the US a “crypto capital.” His support reflects the industry’s growing influence, underscored by the “Inaugural Crypto Ball” hosted in his honor this week.
While the executive order is still under review, its potential implications are profound. It could reshape federal oversight, with speculation that the SEC might abandon non-fraud-related crypto cases. Ripple Labs’ legal team has already hinted at such outcomes.
With Bitcoin’s price surging past $100,000 since Trump’s election win, the crypto market is watching closely. Trump’s anticipated actions could herald a new era for digital assets in the US.
