Trump to sign executive orders in support of the crypto industry, including establishing a Bitcoin reserve

Donald Trump’s upcoming executive orders immediately after his inauguration (day 1) will create a Bitcoin reserve and end ‘debanking’. The promised day-one executive orders will also include the nomination of Paul Atkins for the U.S. SEC Chair and the appointment of David Sacks as AI and crypto czar.

The Washington Post reported that Trump was expected to issue an executive order repealing the controversial crypto accounting policy requiring banks holding digital assets to count them as liabilities on their balance sheets.

Venture capital billionaire Marc Andreessen and his peers were also pressing Trump to revoke Biden’s anti-crypto policies and establish regulations that reduced lawsuits and investigations against crypto companies.

The upcoming executive actions also aim to protect crypto investors from what President-elect Trump calls ‘the Washington bureaucratic swamp’. The first executive order will establish a presidential crypto council involving about 20 industry leaders. 

Trump’s administration proposes day-one crypto-centric executive orders 

BREAKING: Donald Trump is expected to propose forming an America-first crypto reserve that would "prioritize digital coins founded in the US," per NY Post.

This would include coins like Solana, USD Coin and Ripple. pic.twitter.com/81q7t737cy

— The Kobeissi Letter (@KobeissiLetter) January 16, 2025

The 45th and 47th U.S. president is expected to issue crypto-related executive orders within the first few hours of his second term, the International Business Times reported. Sources cited by the IBT revealed that the incoming president’s transition team floated a draft of comprehensive pro-crypto executive orders. The executive orders will likely include a provision instructing the U.S. SEC to drop Staff Accounting Bulletin 121. 

Among the proposed EO-driven changes will be a ‘reformative’ recommendation mandating the U.S. SEC and the CFTC to establish a working group to get regulators and industry players on the same page.

Other more comprehensive reforms will be expected to take time, given the complexity of regulation and blockchain technology. Trump’s executive order for a crypto council will align with his December decision to appoint Bo Hines as the crypto council’s head, helping digital asset industry leaders receive the tools needed to succeed. 

Although Trump has not been vocal lately about establishing a Bitcoin reserve, his ally Sen. Cynthia Lummis said she would push for one. According to the IBT, it remained to be seen whether Trump and Lummis would be able to pull off a strategic Bitcoin reserve and whether the crypto council would benefit the broader crypto space.

Some of the proposed reforms not previously reported will include an order for the U.S. SEC to ‘ rescind its controversial ‘exchange rule’ targeting DeFi projects. Another drafted order will direct the U.S. Secretary of State to coordinate internationally in support of crypto-related innovation.

Trump intends to issue a few broad and sweeping pro-crypto EOs

As per the IBT, sources familiar with the matter reportedly said Trump was likely to issue sweeping executive orders that would benefit the crypto industry.

They, however, pointed out that it would probably take more time to get the reforms across the finish line given the ‘massive stack’ of executive orders awaiting Trump’s attention. They added that this could be a good thing considering the fact that some of the issues needed more time for careful consideration and were important to get right the first time.

Given the nature of the presidency and the ‘hecticness’ that no doubt surrounded Trump’s first day in office, the timelines and languages of any proposed executive orders under consideration were subject to change.

Hines had called a few crypto policy leaders in Washington asking for the submission of crypto-related executive order proposals by January 15th. It appears even less likely that the president-elect’s transition team is polishing a single crypto executive order in preparation for January 20th, with Trump’s inauguration coming less than a week after the 15th deadline.

Prominent crypto industry players such as MARA Holdings chairman and CEO Fred Thiel and Cardano blockchain co-founder Charles Hoskinson congratulated Hines. Small crypto holders, however, doubted his capability and experience in handling blockchain or crypto matters.

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