As President-elect Donald Trump prepares to take office on January 20, 2025.
The cryptocurrency industry is eagerly awaiting its launch promised for a long time regulatory revision.
According to Reuters, anticipation is growing for possible executive orders aimed at cementing the US’s role as a global leader in digital assets. Industry insiders are pushing for Trump to take immediate action on his first day in office and make good on his campaign promise to create a friendlier regulatory environment for the crypto sector.
A strategic Bitcoin reserve?
One of the most anticipated moves is Trump’s proposal to create a national Bitcoin reserve. During his campaign, Trump hinted at the idea of making Bitcoin a “strategic reserve asset.” This concept has already found favor with some policymakers and crypto advocates. The Bitcoin Policy Institute, for example, has proposed an executive order that would allow the U.S. government to invest up to $21 billion a year for five years to accumulate Bitcoin. This could significantly disrupt the cryptocurrency market as a large portion of Bitcoins will be withdrawn from circulation.
Zack Shapiro, head of policy at the Bitcoin Policy Institute, argued: “The U.S. should lead the way in acquiring Bitcoin. “If we wait too long, other nations could dominate this space.” Analysts argue whether this will happen through executive action can be achieved or whether legislation is required, but the Bitcoin Act of 2024, introduced by Senator Cynthia Lummis, proposes that the Federal Reserve and the Treasury Department purchase 200,000 Bitcoin each year, with the possibility of purchasing up to 1 million Bitcoin…
