Trump Will Make Digital Currency a National Priority in the Coming Executive Order: Bloomberg

According to The Block, U.S. President-elect Donald Trump intends to issue an executive order to prioritize cryptocurrencies in the national policy agenda after being sworn in next Monday, according to Bloomberg. Trump also plans to establish a council of advisers on cryptocurrencies. President-elect of the United States Donald Trump intends to issue an executive order to prioritize cryptocurrency in national policy, Bloomberg reported, citing sources familiar with the matter. According to sources, this legal order is expected to turn cryptocurrencies into a national mandate, aiming to enhance the government's cooperation with the cryptocurrency field, according to Bloomberg's report. According to the report, with this order, Trump plans to form a cryptocurrency advisory council to give crypto industry insiders a stronger voice in his administration. Ron Hammond, senior director of government relations at the Blockchain Association, said in a previous interview with The Block that such a cryptocurrency council would include cryptocurrency CEOs, while companies would decide who would represent them on the council. The new Trump administration, expected to start next Monday, is expected to have a more open stance on cryptocurrency. Hammond told The Block that it is still unclear whether an executive order on cryptocurrency will take effect on Trump's inauguration day or in the first week. Meanwhile, The Washington Post reported on Monday that one of Trump's upcoming executive orders may include the repeal of the controversial accounting guidance for digital currencies by the US Securities and Exchange Commission, SAB 121. The president-elect also accepts the establishment of a "America First" strategic reserve fund prioritizing currencies established in the United States, such as USDC, SOL, and XRP, the New York Post reported. Trump said he intends to create a strategic cryptocurrency reserve to position the country as a leader in the cryptocurrency field. After Trump's election in November, some US states have proposed bills on bitcoin reserves. Representatives from states including Texas, Pennsylvania, Ohio, and Oklahoma have recently pushed for the establishment of bitcoin reserves in their respective states. Trump's inauguration will be welcomed by a series of events organized by cryptocurrency organizations in the coming weeks. BTC Inc. and Stand With Crypto will host the Crypto Ball Inauguration Party today at the Andrew W. Mellon Auditorium in Washington, DC