- Trump’s crypto council aims to create a unified regulatory framework for digital assets.
- SEC’s repeal of SAB 121 could open doors for institutional crypto adoption in the U.S.
- Comprehensive crypto reforms could reshape U.S. policy and foster global innovation.
Donald Trump’s return to the presidency is expected to bring significant changes to cryptocurrency policies. His first executive order will address urgent issues in the crypto sector, aiming to reshape how the U.S. regulates digital assets.
Reports indicate that this executive order will establish a presidential crypto council, consisting of around 20 key industry leaders.
Presidential Crypto Council and New Directions
The executive order is set to form a presidential crypto council, including top CEOs and founders from the crypto industry. This group will collaborate on resolving critical challenges in the crypto space.
Additionally, the order is expected to push the SEC to rescind SAB 121, a regulation that limits U.S. banks from holding cryptocurrency. This rule has hindered institutional adoption of digital assets.
While Congress previously attempted to repeal SAB 121, President Biden’s veto maintained it. Trump’s intervention could mark a major shift in the U.S. financial approach to cryptocurrencies.
Related: U.S. Bitcoin Reserve? Trump’s First 100 Days to Shape Crypto 2025
Expanded Crypto Policies Under Development
Beyond immediate measures, Trump’s administration is working on broader crypto reforms. These include directing the CFTC and SEC to create a unified working group on digital assets. The objective is to eliminate regulatory uncertainty and encourage innovation.
Another order may press the SEC to withdraw its controversial exchange rule, which has impacted decentralized finance projects. The State Department may also receive directives to support global crypto advancements. These actions reflect a commitment to fostering a supportive crypto ecosystem in the U.S.
Challenges to Implementation
Despite the ambitious agenda, implementing these reforms might face delays due to the high volume of executive orders under review. Additionally, Trump’s transition team has sought policy suggestions from crypto leaders with tight deadlines.
This collaborative approach could lead to practical and effective policies. However, addressing the complexity of these reforms will require careful execution to ensure they have the desired impact.
Related: Crypto Market Prepares for Token Sell-Off Ahead of Trump Inauguration Next Week
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