President-elect Donald Trump is reportedly planning to prioritize cryptocurrency through an executive order expected shortly after his Jan. 20 inauguration.
The order aims to boost collaboration between government agencies and crypto firms, establish a “crypto advisory council,” and reassess digital asset regulations.
Litigation Freeze: Potentially halting ongoing legal cases against major firms like Binance and Ripple Labs. National Bitcoin Reserve: Formalizing a reserve using over 213,000 BTC, valued at $21.5 billion as of August 2024.
Support for U.S.-Founded Cryptocurrencies: Considering an “America-first strategic reserve” to include assets like Solana, USD Coin, and XRP, with Ripple advocating for broader inclusion.
The crypto market has reacted positively, with XRP nearing all-time highs and the total market capitalization rising 1% to $3.72 trillion. Coinbase VP Kara Calvert emphasized the initiative’s global significance, positioning the U.S. as a leader in the crypto space.
While details may change, the order is seen as a pivotal move to strengthen the U.S.’s role in cryptocurrency innovation and regulation.
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