Trump Plans to Designate Crypto as a National Priority: Report

Donald Trump is planning to release an executive order elevating crypto as a “national imperative or priority,” reported Bloomberg, citing people familiar with the plans on Jan. 17. The order, which may come shortly after his Jan. 20 inauguration or even on day one , is intended to guide government agencies to work with the crypto industry, according to the report. It is also expected to involve the creation of a “crypto advisory council” to advocate for the industry’s policy priorities. Trump plans to release an executive order elevating crypto as a policy priority and giving industry insiders a voice within his administration https://t.co/egBFjchxsO — Bloomberg Crypto (@crypto) January 16, 2025 Crypto Priorities For Trump The order could also direct agencies to review digital asset policies and pause crypto-related litigation, the sources said. “Stopping legal actions that have targeted a range of companies from Binance, the world’s biggest crypto exchange, to startup Ripple Labs, is a top priority for the industry,” they added. Ripple’s native token, XRP, has already reacted to the possibility of its four-year battle with the SEC ending by surging close to its all-time high in late trading on Thursday. The creation of a national Bitcoin strategic reserve encompassing the government’s existing BTC holdings is also under consideration, according to Bloomberg’s anonymous sources. The US government held more than 213,000 BTC as of August 2024, currently worth around $21.5 billion, according to CoinGecko. There was a scare earlier this month that a portion of it from Silk Road seizures would be sold off, but this turned out to be more FUD. According to the New York Post, a more controversial concept of an “America-first strategic reserve” would “prioritize digital coins founded in the US, like Solana, USD Coin, and Ripple’s XRP.” Meanwhile, the New York Times reported that Ripple CEO Brad Garlinghouse encouraged Trump to include other crypto assets beyond BTC in its potential strategic reserve. NYT: Trump is considering “a government program to buy and hold billions of dollars in Bitcoin.” On Day 1. Let that sink in. pic.twitter.com/8h3yAM4Ox7 — Julian Fahrer (@Julian__Fahrer) January 16, 2025 Not So Fast … However, the executive order, which could come as soon as Jan. 20 when Trump is sworn in, is not final and could change before it is made public, said the Bloomberg sources. “What I think Donald Trump is going to do is signal that the United States is back and we are ready to lead in this industry,” said Kara Calvert, vice president for US policy at Coinbase, before adding, “What it’s signaling to other countries is be careful, or you won’t keep up.” Crypto markets reacted positively to the sentiment, with total capitalization gaining 1% to reach $3.72 billion, with Bitcoin and XRP firmly in the driving seat. The post Trump Plans to Designate Crypto as a National Priority: Report appeared first on CryptoPotato .