Pakinomist – US President-elect Donald Trump is preparing to sign an executive order making cryptocurrency a national political priority and giving industry leaders a significant role in shaping regulations, Bloomberg reported Friday, citing sources.
The move could reshape how the US government approaches digital assets, marking a sharp shift from the current administration’s enforcement-heavy strategy.
The upcoming order, expected as early as Monday, aims to elevate cryptocurrency to a national imperative. It may establish a crypto advisory council to advocate for industry-friendly policies, signaling a warmer stance after years of regulatory crackdowns, the report said.
was 0.4% higher at $100,285.5 as of 19:34 ET (00:34 GMT).
Federal agencies under President Joe Biden filed over 100 enforcement cases against crypto firms, including Binance and , tightening restrictions on banking access for the sector following scandals such as the collapse of FTX.
Key measures under consideration include a review of existing digital asset policies by all federal agencies and a potential pause in lawsuits against crypto firms, Bloomberg said, citing unnamed sources familiar with the plans.
Notably, the order could create a national Bitcoin repository using the government’s $20 billion in confiscated Bitcoin holdings, the report said.
Trump, who actively supported crypto during his campaign, has promised to make the United States the world leader in digital assets.
The executive order, if issued, will build on momentum from private industry. Major financial players such as BlackRock (NYSE: ) and BNY Mellon (NYSE: ) launched crypto products, while Cantor Fitzgerald announced a Bitcoin financing project, according to the report.
Bitcoin has risen sharply since Trump’s election in November, reaching a record high above the $108,000 mark last month, buoyed by optimism surrounding his pro-crypto stance.
The order remains under discussion and could change, Bloomberg added.
