The cryptocurrency industry is actively lobbying President-elect Donald Trump’s transition team to implement sweeping policy changes through executive orders when he takes office in January, according to industry officials familiar with the matter.
Key Proposals
The industry is pushing for several executive orders within Trump’s first 100 days, including:
- Creation of a national bitcoin stockpile
- Measures to ensure crypto companies’ access to banking services
- Establishment of a crypto council
Bitcoin Reserve Initiative
- Bitcoin Policy Institute has drafted a potential executive order text
- Proposed order would allocate $21 billion for a national bitcoin stockpile
- Bitcoin recently hit records above $107,000 before falling below $100,000
- Analysts debate whether executive powers could establish such a reserve
Trump’s Crypto Team
The incoming administration has already made key appointments:
- Paul Atkins as Securities and Exchange Commission chair
- David Sacks as White House crypto czar
Banking Access
- Industry seeks relief from perceived banking restrictions
- Questions remain about legal force of executive orders on independent regulators
- Previous regulatory scrutiny has limited crypto firms’ access to traditional banking
Industry Perspective
Rebecca Rettig, chief legal officer at Polygon Labs, emphasized the importance of early executive action: “Given the tenor of the campaign, it would be imperative for executive orders to really set out what the actual priorities will be on day one and provide some kind of roadmap.”
Broader Policy Framework
The administration may also consider:
- Core principles for crypto regulation
- Review of existing rules and their applicability to crypto
- Structure and staffing of the proposed crypto industry council