Trump plans to Designate Cryptocurrency as National Priority


                                                                      Watchlive

President-elect Donald Trump is planning to release an executive order that designates cryptocurrency as a national priority. The key aspects of this plan include:

Executive Order Details
  • Elevate crypto as a policy priority
  • Guide government agencies to work more closely with the crypto industry
  • Create a crypto advisory council to advocate for industry policy priorities
Potential Implications

  • Provide industry insiders a voice within the administration
  • Potentially pause litigation involving cryptocurrency
  • Explore creating a national Bitcoin stockpile
Context
The US government currently owns approximately $20.6 billion in cryptocurrency, with $20.15 billion in Bitcoin. Bitcoin has surged nearly 50% to over $100,000 since the November election, partly due to anticipation of such policy changes.This move comes after the crypto industry faced significant regulatory challenges during President Biden's administration, including over 100 enforcement actions by federal agencies and difficulties for crypto companies working with financial institutions.

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