The US crypto industry anticipates pro-crypto executive orders from President-elect Donald Trump as soon as his first day in office as a roadmap, Reuters reported on Dec. 23.
Rebecca Rettig, chief legal and policy officer at Polygon Labs, said:
“Given the tenor of the campaign, it would be imperative for executive orders to really set out what the actual priorities will be on day one and provide some kind of roadmap.”
Trump’s promises to embrace crypto and position the US as a global leader in the sector have sparked excitement among crypto advocates, who see his administration as a chance to reverse regulatory crackdowns and foster innovation.
He recently nominated pro-crypto Stephen Miran and Bo Hines to the economic and digital assets councils. Additionally, Trump chose another pro-crypto name, Paul Atkins, as the new chairman of the US Securities and Exchange Commission (SEC).
The wishlist
According to the report, the crypto sector has outlined key priorities it hopes Trump will address through executive orders. The first is the Bitcoin (BTC) Strategic Reserve, which would establish a national strategic reserve of BTC worth up to $21 billion.
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According to some analysts, the Bitcoin reserve plan is the least likely executive order to be concretized on day one.
However, even if it materializes, it would be a signal to agency officials rather than having legal force, as federal bank regulators are independent.
Klaros Group partner Jonah Krane assessed:
“(They) are not going to change policy on the ground on day one. But they will tell you what direction this administration wants to head.”
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Author: Gino Matos
