US crypto industry eager for Trump presidency
By: Hannah Lang
Reuters
..... The cryptocurrency industry is pushing President-elect Donald Trump's team to kick-start his promised crypto policy overhaul when he takes office next month [01/20/2025] with executive orders that would help push tokens mainstream, according to industry officials.
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Trump plans to issue a flurry of executive orders and directives on everything from immigration to energy on his first day in office on January 20, [2025] Reuters reported this month. [20/2024]
..... On the campaign trail, Trump courted crypto cash with promises to be a "crypto president," and the industry want shim to make good on that pledge with executive orders creating a bitcoin stockpile, ensuring the industry can access banking services, and creating a crypto council, the pole said.
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They are pushing for those executive orders within Trump's first 100 days in office, and expect at least one could come on January 20, [2025] said two other people with knowledge of the matter.
..... "Given the tenor of the campaign, it would be imperative for executive orders to really set out what the actual priorities will be on day one and provide some kind of road map," said Rebecca Rettig, chief legal and policy officer at crypto company Polygon Labs.
..... Worried about crime and volatility, President Joe Biden's regulators cracked down on crypto companies but Trump has pledged to reverse course. His crypto policy team is already taking shape, with the announcement this month [12/2024] of crypto-friendly Securities and Exchange Commission Chair Paul Atkins and White House crypto czar David Sacks.
..... "There has been an effort in the Washington bureaucratic swamp to stifle innovation ... But President Trump will deliver on his promise to encourage American leadership in crypto," Trump transition team spokesperson Brian Hughes said in a statement.
..... Bitcoin, the world's largest cryptocurrency, hit new records above $107,000 this month [12/2924] after Trump reiterated his plan, first unveiled in a speech in July, [2024] for a strategic bitcoin reserve. Bitcoin has since fallen back below $100,000.