During his campaign, Donald Trump laid out a bold vision for the cryptocurrency sector, making 11 key commitments that have sparked intense debate. Here’s a breakdown of his pledges:

1. Remove SEC Chairman Gary Gensler on Day One – A move that would signal an immediate shift in regulatory stance.

2. Create a ‘National Bitcoin Reserve’ – Positioning Bitcoin as a strategic asset for the country.

3. Position the U.S. as the ‘Global Hub for Bitcoin and Cryptocurrency’ – Aiming to make the U.S. the go-to destination for crypto innovation and investment.

4. Retain the U.S. Government’s Holdings of 203,650 BTC – Preserving the significant Bitcoin reserves currently under federal control.

5. Abolish Capital Gains Tax on Bitcoin – A game-changing tax policy to incentivize investments and transactions.

6. Support Domestic Bitcoin Mining – Encouraging mining operations within the U.S. to secure its position as a global leader.

7. End Regulatory Crackdowns – Easing the pressure on crypto firms and creating a more welcoming environment.

8. Form a ‘Presidential Advisory Committee on Bitcoin and Cryptocurrency’ – Establishing a dedicated body for crypto policy and strategic advice.

9. Ensure the Right to Self-Custody of Digital Assets – Safeguarding individuals' rights to hold and manage their cryptocurrencies without third-party intervention.

10. Reject Central Bank Digital Currencies (CBDCs) – Opposing the idea of government-issued digital currency to promote decentralization.

11. Reduce Ross Ulbricht’s Double Life Sentence – Addressing the controversial sentencing of the Silk Road founder.

The real question is: how feasible are these commitments, or are they merely ambitious campaign promises?

Some pledges, such as firing the SEC Chairman and creating a pro-crypto advisory committee, could be implemented relatively swiftly with executive authority. Supporting domestic Bitcoin mining and promoting crypto-friendly policies might also see progress, aligning with Trump’s business-friendly stance. However, more complex promises, like establishing a national Bitcoin reserve and eliminating capital gains tax, would require legislative backing and face significant challenges in Congress.

Retaining the U.S. government’s substantial BTC holdings could be feasible, but abolishing capital gains tax and positioning the U.S. as the top global crypto hub are ambitious targets with potential economic and political hurdles. The pledge to pardon or reduce Ross Ulbricht’s sentence would ignite debates on legal and ethical grounds.

While these promises showcase a strong pro-crypto narrative, their actual execution will depend on navigating intricate legislative processes, regulatory bodies, and public opinion. Are these bold statements setting the stage for revolutionary crypto policy, or do they risk remaining as campaign rhetoric? Only time will reveal which, if any, of these ambitious commitments will come to life.

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