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president-elect Donald Trump According to a report on Thursday, he will issue an executive order declaring cryptocurrency a national priority and including industry experts in his administration.
What happened: The strategic language was used to encourage government agencies to engage in the growing industry, whose most valuable asset, Bitcoin (CRYPTO: BTC), surpassed a $2 trillion valuation in recent days, Bloomberg reported, citing people familiar with the plans.
Among the proposals being considered for inclusion in the executive order is a directive to all federal agencies to reassess their policies regarding digital assets and potentially halt any pending lawsuits related to cryptocurrency.
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Another idea being considered is the creation of a national Bitcoin reserve that would include the government’s current Bitcoin holdings. This was one of Trump’s biggest election promises to gain support from cryptocurrency enthusiasts.
However, the executive order was not yet final and could undergo further changes before being made public, according to Bloomberg.
A Trump spokesperson did not immediately respond to Benzinga’s request for comment.
See also: If there was a new fund backed by Jeff Bezos that offered a target return of 7-9% with monthly dividends, would you invest in it?
Why it’s important: As Trump’s inauguration day approaches, speculation about his statements about cryptocurrency has increased.
Recent reports have suggested a pro-cryptocurrency policy shift from the new administration. David ZaksTrump’s AI and crypto czar have reportedly been working with industry leaders to develop a legislative agenda.
Additionally, Trump was expected to tackle controversial laws such as SAB 121, which limit banks’ ability to provide custody services for digital assets.
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