Donald Trump Inauguration: Can we expect crypto-friendly executive orders on January 20?
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As Donald Trump prepares to take office on January 20, 2025, the US cryptocurrency industry is actively pushing Trump to fulfill his campaign promises and hopes that he will issue a series of executive orders on his first day in office to promote cryptocurrencies as mainstream assets. One of the core goals of these plans is to establish the United States' leading position in the global cryptocurrency market by establishing a US strategic reserve of Bitcoin.
Trump's Bitcoin Powerhouse Plan:
Establishing a National Bitcoin Reserve:
Experts and companies in the cryptocurrency industry are urging Trump to establish a national Bitcoin reserve to ensure the United States' strategic position in the global Bitcoin market. Under these plans, the Treasury Department will be tasked with managing the Bitcoin reserve. Although this plan may require congressional approval, the strategy is believed to be able to help the United States cope with future financial challenges and improve the competitiveness of the US dollar.
Banking Service Reform:
Many cryptocurrency companies currently face difficulties in cooperating with traditional financial institutions, mainly due to the lack of a clear regulatory framework. The Trump administration plans to address this issue by promoting more convenient and flexible banking services to ensure that cryptocurrency companies can get the financial support they need.
Cryptocurrency Council and Regulatory Reform:
Trump's team is considering the establishment of a dedicated cryptocurrency industry committee that will help formulate policies and provide a more structured regulatory framework for the industry. In addition, Trump promised to review existing cryptocurrency regulations and promote reforms to make them more adaptable to this rapidly growing industry.
Adjustment of regulatory policies:
Trump plans to reverse the cryptocurrency regulatory policies of the current President Biden administration, which has imposed stricter regulations on cryptocurrency companies. Trump's supporters believe that his policies will be more cryptocurrency-friendly.
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