Industry calls for Trump to issue a pro-cryptocurrency executive order as a roadmap on his first day in office

The U.S. crypto industry expects President-elect Trump to issue a pro-crypto executive order as a roadmap on his first day in office. “Given the atmosphere of the campaign, the executive order must really spell out the actual priorities for the first day and provide some kind of roadmap,” said Rebecca Rettig, chief legal and policy officer at Polygon Labs. Trump recently nominated Stephen Miran and Bo Hines, who support cryptocurrencies, to the Economic and Digital Assets Committee. In addition, Trump also selected another pro-crypto Paul Atkins as the new chairman of the U.S. SEC. The cryptocurrency industry has outlined the key priorities it hopes Trump will address through executive orders, starting with the establishment of a national strategic reserve of bitcoin worth up to $21 billion. However, some analysts believe that the Bitcoin reserve plan is the executive order least likely to be concretized on the first day. Even if it is implemented, it will only send a signal to agency officials rather than have legal force because federal bank regulators are independent. Jonah Krane, partner at Klaros Group, assessed: "(They) won't change policy on day one. But they will tell you which direction this administration wants to go." Another item on the crypto industry's list is to make it easier for crypto companies to access U.S. banking services, which is different from Bitcoin reserves. Krane said he would not be surprised if a broader executive order was issued on day one requiring agencies to review their rules in this area. The last item is to establish a coordinating committee to promote the growth and regulation of the U.S. crypto industry. The first step is to nominate David Sacks to lead crypto and artificial intelligence regulation. Industry insiders believe that these measures will send a strong signal to the market and consolidate Trump's commitment to become the "crypto president." Brian Hughes, a spokesman for the Trump transition team, said in a statement: "The bureaucratic swamp in Washington has been trying to stifle innovation...but President Trump will deliver on his promise to encourage the United States to lead in the crypto field." (Reuters)