President-elect Donald Trump plans to sign an executive order that will make cryptocurrency a key government policy priority. This decree will formalize cryptocurrency as a “national imperative or priority,” which, in turn, will oblige government departments to cooperate with industry representatives.
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The decree is considering the possibility of including a directive for all government agencies to review policies regarding digital assets and suspend litigation involving crypto companies such as Binance and Ripple. As Bloomberg emphasizes, this measure is a priority for the industry and is aimed at protecting these and other companies from pressure from regulatory authorities.
In addition, the idea of creating a national reserve of bitcoins, which will pool the government’s existing assets in this cryptocurrency, is being discussed. According to data analytics company Arkham, the United States currently owns about $20 billion worth of bitcoins confiscated during various criminal investigations. At the same time, hopes of creating such a reserve have contributed to Bitcoin’s growth by more than 50% since the November election, and as of this evening, the price of the token has increased by about 5%, reaching $105,009.
Despite the fact that the decree is not yet final and may undergo changes, representatives of the crypto industry express optimism. Kara Calvert, vice president of US policy at Coinbase, said: “I think Donald Trump is going to send a signal that the United States is back and ready to lead in this industry.” She also added that this will force other countries to be “careful in this regard so as not to fall behind.”