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CryptoIntelligence 2025-01-15 04:22:00

Trump’s Return to White House May Bring Crypto Policy Changes on First Day

President-elect Donald Trump’s return to the White House on Jan. 20 could begin with a series of executive orders, some of which might significantly impact the cryptocurrency industry. According to a Jan. 13 report by The Washington Post , Trump is expected to address crypto-related policies immediately after taking office. These include measures targeting crypto de-banking and the repeal of a banking accounting rule that mandates banks holding cryptocurrencies to list them as liabilities. “The Trump team has made it very clear that this is a priority,” a source involved in the discussions told the Post . Critics of President Joe Biden’s administration have alleged that financial regulators were used to pressure banks into severing ties with the crypto industry, a move dubbed “Operation ChokePoint 2.0.” Additionally, crypto leaders have been pushing back against the controversial SEC Staff Accounting Bulletin (SAB 121) issued in March 2022, which introduced the requirement to report crypto as a liability. During the Bitcoin 2024 conference, Trump promised to make the United States a global “crypto capital,” reiterating his commitment to supporting the industry. Reports from Reuters on Dec. 23 indicated that crypto industry advocates were urging Trump to issue executive orders on crypto during his first 100 days in office, with some expecting immediate action on his first day. The Post also highlighted Trump’s plans to revoke Biden’s 2023 AI executive order, criticized by conservatives for emphasizing equity in AI operations. David Sack, Trump’s crypto and AI advisor, reportedly discussed these plans during a luncheon with tech leaders and government officials in December. Venture capitalist Marc Andreessen has also played a significant role in shaping Trump’s incoming administration. Andreessen has been actively recruiting candidates for key positions, not only in technology but also in defense and intelligence roles. Throughout his campaign, Trump consistently advocated for reduced regulatory scrutiny of the crypto sector and proposed establishing a strategic Bitcoin reserve.

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