A Landmark Move in U.S. Digital Currency Strategy
As reported by Bloomberg, President-elect Donald Trump is preparing an executive order centered on the Cryptocurrency National Policy. This initiative is seen as a pivotal moment for the U.S., marking a significant shift in governmental engagement with digital currencies.
This approach contrasts with the previous administration’s enforcement-heavy stance, signaling a new chapter for cryptocurrency regulations.
Designating Cryptocurrency as Key National Strategy
The forthcoming executive order, anticipated for release next Monday, places cryptocurrency as a top priority in the national strategy framework. Industry leaders expect this move to foster a favorable regulatory environment. A proposed crypto advisory council may steer regulations towards promoting innovation and growth in the sector.
Strategic measures could also involve reevaluating existing federal digital currency laws and possibly halting legal actions against crypto-related entities.
Envisioning a National Bitcoin Reserve
An ambitious proposal suggests utilizing the government’s $20 billion Bitcoin surplus to establish a national Bitcoin reserve. If realized, this move could solidify America’s leadership in the global cryptocurrency industry. Some countries are already follow this changes. Will the US do the same ?
President Trump, known for his advocacy of digital currencies during his campaign, appears intent on making the U.S. a dominant player in the crypto landscape.
Cryptocurrency National Policy to Boost Private Sector Engagement
The private sector, led by giants like BlackRock, BNY Mellon, and Cantor Fitzgerald, stands to benefit immensely from this policy. These firms have already invested heavily in developing cryptocurrency-related products and services.
While the specifics of the executive order remain fluid, the anticipation alone has significantly boosted market sentiment, with Bitcoin achieving new record highs since Trump’s election.
