[NEWS] Cryptocurrency policy becomes Trump's first priority after taking office

It has been revealed that President-elect Trump is preparing an executive order that will make cryptocurrency policy his top priority immediately after taking office. On the 17th, several people familiar with the plan revealed this on the condition of anonymity.

The executive order, which may be announced in conjunction with the US presidential inauguration on January 20th local time, is expected to include several measures to improve the regulatory environment that the cryptocurrency industry has been calling for for many years, as well as strengthening cooperation between the government and the industry.

The two major points of interest in this executive order are the establishment of the "Cryptocurrency Advisory Committee" and the creation of a Bitcoin (BTC) strategic stockpile. The establishment of the Cryptocurrency Advisory Committee is believed to be aimed at reviewing policies and investigation systems by establishing a specialized organization for government agencies to directly interact with the cryptocurrency industry and discuss legal regulations and industry promotion measures, and to create a forum for industry and government to work together to promote innovation.

If the executive order includes provisions related to the Bitcoin strategic stockpile, it is possible that the US government will officially utilize the Bitcoin seized by the government, totaling $20 billion. In addition, the existence of the "Bitcoin Act" proposed by Senator Cynthia Lummis of Wyoming is also significant.

If the bill is approved, the US government will begin to move in earnest toward purchasing 1 million BTC over a five-year period and holding it as a strategic national reserve. It has been pointed out that this could signal a large buying demand in the market and could be a factor in further pushing up the price of Bitcoin.

In addition, it was reported that the government is considering including cryptocurrencies originating in the United States, such as XRP, Solana (SOL), and USDC, in the nation's strategic stockpile. When the idea of ​​this "America First" strategic stockpile was reported, the cryptocurrency market strengthened its upward trend again.

Some believe that it will take time for the new policies of the new Trump administration, which will soon be inaugurated, to be concrete, but the presidential order on the day of the inauguration, which will be a guide to what policies Trump, who has strong support from the cryptocurrency industry, will put forward, could be a turning point that greatly affects the future of cryptocurrencies in 2025.

Reference: CNBC
Image: Shutterstock

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