Trump Could Bring Changes to Crypto Policy on His First Day

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The return of President-elect Donald Trump to the White House on January 20 could begin with a series of executive orders, some of which may have a significant impact on the cryptocurrency industry. According to a report on January 13 by The Washington Post, Trump is expected to address cryptocurrency-related policies immediately after taking office. These measures include measures aimed at non-banking the digital currency and eliminating the banking accounting rules that require banks to list them as payable liabilities. A source familiar with the discussion told the Post, "Trump's team has been very clear that this is a top priority" . Critics of President Joe Biden's administration have accused financial regulatory agencies of being used to pressure banks to sever ties with the cryptocurrency industry, a move called "Operation ChokePoint 2.0". Furthermore, cryptocurrency industry leaders have opposed the controversial Staff Accounting Bulletin (SAB 121) issued in March 2022, which requires reporting cryptocurrency as a liability. In the Bitcoin 2024 conference, Trump promised to turn the United States into the global "cryptocurrency capital," reaffirming his commitment to supporting this industry. Reports from Reuters on December 23 said that cryptocurrency industry supporters are urging Trump to issue executive orders on cryptocurrency in the first 100 days in office, with some expecting him to act immediately on the first day. The Post also emphasizes Trump's plan to revoke Biden's 2023 AI executive order, criticized by the conservative side for emphasizing fairness in AI operations. David Sack, a cryptocurrency and AI advisor for Trump, is said to have discussed these plans during a lunch with tech leaders and government officials in December. Venture capitalist Marc Andreessen also plays a crucial role in shaping the upcoming Trump administration. Andreessen is actively recruiting candidates for key positions, not only in technology but also in national security and intelligence roles. Throughout his election campaign, Trump has consistently advocated reducing regulatory oversight in the cryptocurrency sector and proposed establishing a strategic Bitcoin reserve fund. DYOR! #Write2Earn #Write&Earn $BTC {spot}(BTCUSDT)

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