The Block reports: According to Bloomberg, US President-elect Donald Trump plans to issue an executive order making cryptocurrencies a national policy priority after taking office next Monday.
President Trump also plans to establish a virtual currency advisory board.
US President-elect Donald Trump plans to issue an executive order making cryptocurrencies a national policy priority, Bloomberg reported, citing sources familiar with the matter.
According to a report by Bloomberg, sources said the executive order is expected to establish crypto as a national responsibility, with the aim of strengthening the government’s cooperation with the crypto sector.
Following the order, President Trump plans to create a Cryptocurrency Advisory Council to give crypto industry players a stronger voice within his administration, the report said.
Ron Hammond, senior director of government relations at the Blockchain Association, said in a previous interview with The Block that such a crypto council would be made up of crypto executives, but who would choose the council’s representatives? said it was up to the company.
The incoming Trump administration, scheduled to be inaugurated next Monday, is expected to take a more open stance toward cryptocurrencies. Hammond told The Block that it is unclear whether the crypto executive order will be implemented on President Trump’s inauguration day or within the first week.
Meanwhile, the Washington Post reported on Monday that one of President Trump’s upcoming executive orders could include repealing the Securities and Exchange Commission’s controversial crypto accounting guidance, SAB 121. .
The New York Post reports that the president-elect is also open to creating an “America First” strategic reserve fund that will prioritize coins founded in the United States, such as USDC, SOL, and XRP. President Trump has said he intends to create a Strategic Cryptocurrency Reserve to position the nation as a leader in the crypto sector.
After President Trump was elected in November, several US states have proposed Bitcoin reserve legislation. Lawmakers in states such as Texas, Pennsylvania, Ohio, and Oklahoma have recently pushed to build Bitcoin reserves in their states.
In the coming weeks, there will be a flurry of events hosted by crypto-related organizations to coincide with President Trump’s inauguration. BTC Inc. and Stand With Crypto will host the inaugural Crypto Ball today at the Andrew W. Mellon Auditorium in Washington, DC.
