According to a report from Reuters on December 23, 2024, the coin industry is eagerly awaiting a promising coin policy roadmap from President-elect Donald Trump. When he takes office next month, Trump is likely to issue a series of executive orders aimed at making crypto mainstream, according to information from industry officials.
Trump has made some exciting promises to the coin community throughout his campaign, self-styling himself as the 'crypto president.' This has raised hopes for concrete measures such as establishing a Bitcoin reserve, expanding banking access for coin companies, and forming a crypto council.
As planned, Trump will issue a series of directives on January 20, right at the start of his term, and many industry leaders expect at least one of these orders to be related to coin. Establishing a clear roadmap from day one will be essential, above all to emphasize the priorities of the new administration, according to Ms. Rebecca Rettig, Legal and Policy Director at Polygon Labs.
The Biden administration's activities have been marked by tightening regulations on crypto companies due to concerns about crime and volatility. However, Trump has pledged to reverse this trend. His coin policy team has been shaped, with appointments such as Mr. Paul Atkins, a crypto-friendly SEC Chairman, and David Sacks, the White House's crypto envoy.
The price of Bitcoin, the largest crypto asset in the market, peaked above $107,000 this month after Trump reiterated his strategic Bitcoin reserve plan. But it then fell below $100,000. Analysts are still debating whether Trump could use executive power to establish this reserve or if Congressional intervention is needed.
Trump has also asserted that he will not allow banks to make it difficult for crypto companies, and many executives expect him to address this issue through an executive order. However, existing regulations may not be easily changed as the influence from Washington is only part of the independent context of financial agencies.
Ultimately, Trump may establish a coin industry council, and this is being discussed regarding both structure and personnel. This is similar to councils that have been previously formed through executive orders.
The information above was compiled from Reuters by journalist Hannah Lang, an expert in financial technology and coin.
