According to Bitcoin Magazine CEO David Bailey, Trump’s administration remains pro-crypto. Bailey revealed on X (formerly Twitter) that he received confirmation of crypto-related executive orders being included in the first 200, although the specifics remain unclear.
The tweet may have relieved the crypto community as President Donald Trump did not mention crypto in his inauguration speech and had said nothing about signing any related executive orders.
Trump’s Executive Orders Include Crypto
Bailey’s revelation suggests that the expected shift in United States crypto policy remains, departing from the previous administration’s stricter regulatory stance. Trump’s team, including key advisors like Marc Andreessen and David Sacks, claims to be working on policies to foster blockchain growth and address issues like “de-banking.”
The update follows several speculations, with nearly $5 million wagered via Polymarket on whether Trump would mention crypto in his inauguration speech. Unsurprisingly, the crypto community has been eagerly awaiting the president’s moves, with some suggesting executive orders supporting the industry could be signed as early as inauguration day.
However, this recalls BitMEX co-founder Arthur Hayes’ comment, which cautioned against overly optimistic expectations about Trump’s impact on crypto regulatory changes. He added that meaningful regulatory reforms will likely take longer than market participants assume.
Trump’s Promises Fuel Anticipation
Creating a Strategic Bitcoin Reserve is a highly anticipated promise that could significantly affect the crypto market. The reserve would allow the U.S. government to hold Bitcoin, potentially driving demand and adoption of the crypto. By investing in BTC, the U.S. would send a strong signal of support for the asset, which could lead to replication by other countries.
Establishing a Presidential Crypto Council is another key promise that could promote innovation and growth in the crypto industry. The council, comprising around 20 industry leaders, would provide expert advice and guidance to the U.S. government on crypto and blockchain technology matters.
The repeal of SAB 121 is a promise that could help address the issue of “de-banking” in the crypto industry. SAB 121 is a rule that discourages American banks from holding crypto, making it difficult for crypto businesses to access banking services. By repealing this rule, the U.S. government would make it easier for crypto firms to operate and grow.
