Trump (R) is planning to use His Executive Powers to Reduce the Regulatory Burden faced by Cryptocurrency Companies and Promote Digital Asset Adoption, in his First few days in Ooffice. Trump, who courted Crypto Cash on the Ccampaign Trail, with Promises to be a "Crypto President", is expected to Sign an Executive Order creating a Crypto Advisory Council, an idea He First floated in July, 2024. A Crypto Council, would Help Advise the Government on Crypto-Friendly Policy. It could have as many as 20 Members'
Trump's Advisers have also discussed using an Executive Order to Direct the Securities and Exchange Commission (SEC) to Rescind 2022 Accounting Guidance known as "SAB 121" that has made it too Costly for some Companies, particularly Banks, to hold Cryptocurrencies on Behalf of Third Parties.
Trump is also expected to Order the End of "Operation Choke Point 2.0," the Term Crypto Executives use to describe what they say has been a Concerted Effort by Bank Regulators to choke Crypto Companies out of the Traditional Financial system by Directing Banks to Deny Services. Bank Regulators Deny that such an effort Exists.
Reuters could Not Ascertain if Trump would Direct the Changes via One or Several Executive Orders, but Sources said the Goal was to quickly send a Strong Signal that the New Administration broadly Ssupports Digital Asset Adoption. If Implemented by the relevant Regulators, Trump's expected Ppolicy Ddirectives have the potential to push Cryptocurrencies into the Mainstream, say Regulatory and Ccrypto Experts.
Cryptocurrency Regulation is just One of several Topics that Trump is expected to address with Executive Oorders, in the opening days of Hhis Second Four-year Term. The Incoming Ppresident's Team has promised Dozens of Executives Orders on Topics ranging from Energy Production to Illegal Immigration.
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