Trump will make crypto a key national priority

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President-elect Donald Trump plans to issue an executive order prioritizing crypto as a key policy area, according to a Bloomberg report.

The order could come as early as Monday and would establish a crypto advisory council to incorporate industry perspectives into the administration.

The move represents a departure from President Joe Biden’s administration. During his tenure, more than 100 enforcement actions were taken against crypto companies, including high-profile cases involving FTX and Binance.

The administration has also implemented policies limiting crypto companies’ access to banking services.

The planned executive order would require all government agencies to review their digital asset policies and could suspend ongoing litigation against companies like Ripple Labs and Binance.

According to data from Arkham Analytics, it could also establish a national Bitcoin stockpile, consolidating around $20 billion worth of Bitcoin currently held by the US government following various investigations.

Trump’s support for crypto emerged during his presidential campaign, including his appearance at a Bitcoin conference in July, where he pledged to make the United States the world leader in crypto.

His family has launched crypto initiatives, including World Liberty Financial, focused on crypto revenue and borrowing.

According to Arkham data, World Liberty Financial holds nearly $4 million in Ethereum, $1.9 million in Aave, $1.8 million in Chainlink, and $670,000 in ENA.

The crypto sector has grown under Biden despite regulatory challenges, with major financial institutions like BlackRock and BNY Mellon entering the market.

BlackRock launched spot Bitcoin and Ether ETFs last year, while Cantor Fitzgerald announced plans to launch a Bitcoin financing business.

The industry plans to hold a “crypto inaugural ball” in support of Trump, highlighting crypto’s growing political influence in Washington.

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