The White House’s source also noted that President-elect Donald Trump is expected to sign an executive order promoting the category of digital assets as a policy priority and forming an official Blockchain and cryptocurrency industry council.
The sources say this move seeks to connect the industry pioneers with immediate access to frame regulation under the new government.
Crypto advisory council to influence policy
Sources close to the government’s plans have disclosed that major digital currency companies will be on the proposed cryptographic advisory council. These firms would pick out their people to push for new laws that would foster the development of such digital assets back in the United States of America. According to Ron Hammond, the senior director of government relations at the Blockchain Association, this council can guarantee that industry stakeholders promote the development of the nation’s crypto agenda.
The administration’s views on digital assets will likely be oriented primarily toward stimulating progress and development. Understandings also show that the order may contain strategies to roll out current policies to reduce rigorous regulatory frames like the SEC’s SAB 121 on stringent accounting policies for crypto stocks.
Focus on strategic Crypto development
One of the significant quintessential features of Trump’s expected executive actions would be establishing a strategic reserve solely for home-grown digital assets. Such tokens as USD Coin, Solana, and Ripple will form this reserve in line with the Trump administration’s America First economic strategy. Trump has indicated that he wants to make the US the leader in the world of cryptos through significant actions.
This approach could also increase optimism among investors and commercial entities about the United States’s plan to reign in the crypto market technologically and with regulation backing.
Industry leaders see positive signals
Kara Calvert, vice president for U.S. policy at Coinbase, embraced the Biden administration’s approach, pointing out that the United States should remain the world leader in cryptocurrency. As this publication shows, the market has substantially evolved in the US, with market giants such as BlackRock and BNY Mellon venturing into it.
More to the point, Trump has explicitly endorsed cryptocurrencies in his campaign and attended many Bitcoin conferences. Though his previous attempt at creating a crypto company called World Liberty Financial has not materialized yet, the attention given to cryptocurrency by his administration is a game changer.