Trump’s crypto agenda: 10 things he says he will do as president
Key Takeaways
- Trump pledged a series of actions for the crypto industry, and many await to see if these 10 promises will materialize once he takes office.
- Trump plans to fire SEC’s Gensler, free Ross Ulbricht, and establish the US as a crypto hub.
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Throughout his campaign, Trump promised several initiatives aimed at supporting the crypto industry, marking a significant shift from his earlier skepticism toward Bitcoin.
Trump’s crypto-friendly promises have generated excitement within the industry.
Boris Bohrer-Bilowitzki, CEO of digital identity and regulation leader Concordium, remarked,
“Trump’s victory is not only a historic moment in American politics but also hugely positive news for the country’s crypto and digital assets industries.”
As Trump’s presidency unfolds, the crypto world will be watching closely to see if these ambitious promises materialize into policies that could reshape the US crypto landscape.
Trump’s 10 Key Crypto Promises
1. Establishing a strategic Bitcoin reserve
Trump plans to create a national Bitcoin reserve by instructing law enforcement to retain seized BTC rather than auctioning it. This reserve would serve as a strategic asset aimed at supporting the US economy and helping reduce national debt.
2. Preventing a Central Bank Digital Currency (CBDC)
Trump has pledged to stop any efforts toward establishing a US CBDC, aligning with privacy advocates who view government-controlled digital currencies as a threat to personal financial freedom.
3. Supporting US-based Bitcoin mining
Trump wants “all remaining Bitcoin to be MADE IN THE USA,” signaling strong support for domestic Bitcoin mining.
4. Removing SEC Chair Gary Gensler
Trump has pledged to remove Gary Gensler as SEC Chair, criticizing his strict stance on crypto regulation. Mark Uyeda, a known critic of Gensler’s policies, is a favored candidate to replace him.
5. Commuting Ross Ulbricht’s sentence
Trump has promised to commute the sentence of Ross Ulbricht, founder of the Silk Road marketplace. Ulbricht’s life sentence for operating the site has been a point of contention, and his release would be seen as a pro-crypto statement.
6. Making the US a global crypto leader
Trump envisions the US as the “crypto capital” of the world, a stance that Bohrer-Bilowitzki sees as a major advantage, predicting it will attract global innovators and allow the US to outpace competitors like China.
Bohrer-Bilowitzki also noted that Musk’s involvement in Trump’s administration can only be seen as a win for the industry, as Musk’s influence would likely support pro-crypto policies and strengthen the US’s competitive edge.
7. Ending regulatory pressures on crypto
Trump aims to reverse the anti-crypto stance led by figures like Senator Elizabeth Warren, who has built a coalition focused on national security concerns around digital assets. Trump’s lighter regulatory approach, as Bohrer-Bilowitzki predicts, could aid startup growth, creating an environment for crypto businesses to innovate freely.
8. Encouraging crypto startup growth
By reducing regulatory burdens, Trump aims to foster a favorable environment for crypto startups, allowing innovative companies to flourish in the US rather than moving overseas.
9. Promoting private custody and mining rights
Trump has promised to protect Americans’ rights to mine and privately store their crypto assets, a policy seen as promoting individual financial autonomy.
10. Establishing a Bitcoin and crypto advisory council
Trump plans to form a Bitcoin and crypto advisory council within his first 100 days. This council, composed of industry experts supportive of digital assets, would be tasked with designing a transparent regulatory framework to foster growth and innovation.
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Author: Estefano Gomez
