Donald Trump to Elevate Crypto as a National Priority

Donald Trump is planning to issue an executive order that would make cryptocurrency a top national priority.

The order could be signed as soon as his inauguration on January 20, or even on the first day of his term, with the goal of directing government agencies to work closely with the crypto industry.

Sources have revealed that the order could also require agencies to review policies related to digital assets and temporarily halt lawsuits targeting the sector.

Stopping ongoing legal action against major companies such as Binance – the world’s leading cryptocurrency exchange – or Ripple Labs, a prominent startup, is seen as one of the crypto industry’s top priorities.

The creation of a national Bitcoin strategic reserve, which would include existing government-owned BTC, is under serious consideration.

As of August 2024, the US government holds over 213,000 BTC, with an estimated total value of $21.5 billion. Earlier this month, there were concerns that some of these Bitcoins, obtained from Silk Road seizures, would be dumped on the market. However, this was later confirmed to be false information (FUD).

A more controversial idea is the proposal to create an “America First Strategic Reserve,” which would focus on digital currencies developed by US companies, such as Solana, USD Coin, and Ripple’s XRP.

Read more: Ripple’s XRP Holdings Surge by $125 Billion Following Trump’s Election Victory

Ripple CEO Brad Garlinghouse has publicly called on Trump to consider including crypto assets other than BTC, including other prominent coins, in this potential strategic reserve.

However, the executive order, which could be issued as early as January 20 when Mr Trump is sworn in, is not yet final and is likely to change before it is officially published.