Trump Considering Executive Order to Make Cryptocurrency a National Priority

The proposed order, reported by Bloomberg on Jan. 17, would direct regulatory agencies to collaborate with the crypto industry and establish a "crypto council" to advocate for the sector's policy goals. While the plan could be finalized as early as Trump’s first day in office, it remains subject to change.

Trump’s commitment to a crypto-focused agenda has been linked to strong industry backing during his campaign. He has pledged to position the United States as a global “crypto capital.”

On Jan. 16, The New York Times reported that crypto executives have provided input to David Sacks, Trump’s crypto advisor, regarding the scope of the planned executive order. Additionally, The Washington Post stated on Jan. 13 that Trump is expected to sign orders addressing crypto de-banking and repealing bank accounting policies requiring digital assets to be listed as liabilities.

The directive could also call for a freeze on crypto-related litigation, the review of existing government crypto policies, and the potential establishment of a federal Bitcoin (BTC) reserve using seized cryptocurrency assets.

Reuters reported on Jan. 15 that the Securities and Exchange Commission (SEC) under the Trump administration might review and pause crypto-related cases, particularly those without fraud allegations. Legal experts speculate that several high-profile cases, including the SEC's lawsuit against Ripple Labs, may be abandoned by the new administration. Ripple’s Chief Legal Officer, Stuart Alderoty, expressed optimism about this possibility on Jan. 15.

Proponents of a US Bitcoin reserve argue that it could serve as an inflation hedge and help reduce national debt. Currently, Arkham Intelligence data reveals that the US government holds nearly $20.3 billion worth of seized cryptocurrencies, with $19.8 billion being Bitcoin.

Senator Cynthia Lummis has proposed a bill urging the Treasury to purchase 1 million BTC, which would require an investment of at least $100 billion based on Bitcoin’s current price of around $100,200.