Donald Trump to Elevate Crypto as a National Priority

The order is expected to elevate crypto to a strategic position in national policy and give industry insiders a greater say in the Trump administration.

Azcnews 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.

Trump Is Considering A Government Program To Buy And Hold Billions Of Dollars In Bitcoin
Trump Is Considering A Government Program To Buy And Hold Billions Of Dollars In Bitcoin

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.

(9 votes)

3.0/5

(9 votes)

Latest

Crypto Market Surpasses $4 Trillion, Overtakes Microsoft Amid Policy Boost

News | Altcoin | Bitcoin | Editor Choice

Crypto Market Surpasses $4 Trillion, Overtakes Microsoft Amid Policy Boost

The cryptocurrency market has surpassed $4 trillion in market capitalization for the first time, overtaking Microsoft, driven by supportive U.S. policies and a surge in investments from both individuals and institutions.

Xrp Explodes, Whale Moves Spark Bullish Momentum

News | Altcoin | Editor Choice

XRP Explodes, Whale Moves Spark Bullish Momentum

XRP’s open interest has surged by over 18%, accompanied by a spike in derivatives volume and a golden cross in the MVRV ratio, fueling investor expectations of a major upcoming price breakout.

Xrp Reaches New Peak After 7 Years Of Waiting

Altcoin | Editor Choice

XRP Reaches New Peak After 7 Years of Waiting

This morning, Ripple (XRP) officially reached a new peak at $3.60, becoming the third-largest cryptocurrency in the market.

Donald Trump Plans To Allow Pension Funds To Invest In Crypto

Policy & Regulations | Editor Choice

Donald Trump Plans to Allow Pension Funds to Invest in Crypto

U.S. President Donald Trump aims for pension funds in the country to allocate capital into assets such as gold, private securities, and especially cryptocurrencies.

Wintermute Reports No More Eth Available For Sale Via Otc

Altcoin | Editor Choice

Wintermute Reports No More ETH Available for Sale via OTC

Wintermute has reported that the amount of ETH sold through OTC has run out, indicating impressive buying activity from institutions targeting Ethereum.