Trump’s Plans in Designating Crypto as a National Priority

Src: Yahoo Finance

President-elect Donald Trump plans to issue an executive order designating crypto as a national priority.

The aim of the order is to guide federal agencies to collaborate with the crypto industry and establish a crypto advisory council to advocate for interests of the industry.

Trump's creation of a crypto advisory council is expected to have a big impact on the sector by promoting regulatory clarity and cooperation between the government and crypto companies.

The aim of the council is to streamline regulations, potentially reducing enforcement actions that have hindered growth previously.

The council could enhance the competitive landscape for digital assets globally by supporting a national Bitcoin reserve and aligning U.S. policies with international standards.

A possible halt to ongoing legal actions against cryptocurrency companies and a review of current regulations pertaining to digital assets are also possible components of the plan.

Furthermore, discussions are also going about creating a national Bitcoin reserve, leveraging the current holdings of the government which is valued at nearly $20 billion.

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