Donald Trump Plans to Elevate Cryptocurrency to Policy Priority, Potentially Creating a Crypto Advisory Council

Donald Trump Plans to Elevate Cryptocurrency to Policy Priority, Potentially Creating a Crypto Advisory CouncilJanuary 17, sources close to President-elect Trump revealed that he plans to issue an executive order elevating cryptocurrency to a "policy priority." This strategic wording aims to explicitly instruct government agencies to actively collaborate with the cryptocurrency industry to explore and develop relevant policies

Donald Trump Plans to Elevate Cryptocurrency to Policy Priority, Potentially Creating a Crypto Advisory Council

January 17, sources close to President-elect Trump revealed that he plans to issue an executive order elevating cryptocurrency to a "policy priority." This strategic wording aims to explicitly instruct government agencies to actively collaborate with the cryptocurrency industry to explore and develop relevant policies. This move signals a potential shift in the US government's attitude towards cryptocurrency, foreshadowing potentially more supportive policies and regulations.

Trump's plan reportedly goes beyond mere rhetoric. To effectively advance policymaking and industry collaboration in the cryptocurrency space, he also plans to establish a dedicated cryptocurrency advisory council. This council would comprise experts and professionals from the cryptocurrency industry, tasked with providing expert advice to the government and advocating for the industry's policy priorities. Through this council, the Trump administration aims to ensure the cryptocurrency industry's interests are fully considered and to foster effective communication and cooperation between government and industry. This would undoubtedly give the cryptocurrency industry more direct influence in policymaking, preventing a disconnect between policy and industry realities.

Furthermore, sources indicate the Trump team is actively discussing whether the executive order should include a directive requiring all government agencies to conduct a comprehensive review of existing policies related to digital assets. This review aims to identify and address any policies that may hinder the development of the cryptocurrency industry or conflict with its goals. This initiative seeks to ensure the US government's policy framework adapts to the rapid development of the cryptocurrency industry and creates a fairer, more transparent business environment.

In addition, the executive order may include a provision regarding a pause on lawsuits involving cryptocurrency. This aims to reduce unnecessary legal disputes, creating a relatively stable environment for the cryptocurrency industry to foster innovation and investment. However, the specifics of which lawsuits would be paused and how this would be implemented remain under discussion, requiring further details.

Significantly, the Trump team is also seriously considering the possibility of establishing a national Bitcoin reserve. According to data from analytics firm Arkham, the US government already holds nearly $20 billion worth of Bitcoin. If implemented, this plan would signify the US government's formal recognition and holding of Bitcoin as an asset, having a profound impact on the global Bitcoin market and solidifying Bitcoin's position as a mainstream asset. A national Bitcoin reserve would not only help the government better manage its digital assets but also provide a deeper understanding of cryptocurrency market operations. This move could also send a positive signal to other nations, encouraging them to incorporate digital assets into their fiscal strategies.

However, these plans are currently under discussion, and the final executive order's content may be adjusted. While the Trump team has not officially announced the specifics of these plans, the news has already generated considerable attention and discussion within the cryptocurrency industry. Industry insiders generally believe that the successful implementation of these plans would significantly impact the US and global cryptocurrency markets, propelling the industry into a new phase of development. This would boost investor confidence, attract more investment, and promote innovation and application of cryptocurrency technology. Of course, potential risks and challenges, such as regulating the cryptocurrency market and preventing potential risks, need to be addressed collaboratively by the government and the industry.

In summary, Trump's plan to elevate cryptocurrency to a policy priority signals a shifting US government attitude towards cryptocurrency, potentially leading to more favorable policies. This undoubtedly injects new vitality into the cryptocurrency industry's development, but it's crucial to closely monitor the specific content and implementation of these policies and prepare for potential challenges. This event further highlights the importance of the cryptocurrency market and its influence on the global economy. Future developments will be jointly influenced by the policies of governments worldwide and the industry's progress.