As President Donald Trump takes office, the cryptocurrency industry is eagerly awaiting two significant executive orders that could reshape the future of digital assets in the U.S. According to Fox Business journalist Eleanor Terret, Trump is expected to sign executive orders focused on the future of cryptocurrency, with one potentially banning the creation of a U.S. Central Bank Digital Currency (CBDC), also known as the Digital Dollar.
🚨NEW: In addition to signing an executive order establishing a crypto council, #crypto policy leaders are also expecting Trump to sign an EO banning the creation of a CBDC. Unclear when exactly those EOs may be signed. https://t.co/MlpZD9AYcE
— Eleanor Terrett (@EleanorTerrett) January 21, 2025
During his presidential campaign in May of last year, Trump voiced strong opposition to a U.S. CBDC, a stance he is now likely to back with executive action. The crypto community is keenly anticipating the fulfillment of his promise to keep the U.S. from launching a Digital Dollar. Meanwhile, there is growing support for Trump to issue another executive order establishing a strategic Bitcoin reserve, which has been touted as a solution to address the nation’s $36 trillion debt.
Industry insiders are closely watching the Trump administration’s approach to crypto regulation, with speculations that Trump will create a presidential crypto council. This council, expected to consist of 20 influential crypto leaders, would provide guidance on digital asset policies and advise the administration on crypto regulations. Additionally, Trump has appointed David Sacks as the White House’s crypto czar to ensure a crypto-friendly regulatory environment.
Crypto advocates, including figures like Michael Saylor and companies like Coinbase, have supported the idea of a Bitcoin reserve, which they believe could act as a hedge against inflation and support the U.S. economy. Wyoming Senator Cynthia Lummis has also championed the reserve, while many in the industry oppose the creation of a U.S. CBDC, fearing it could undermine the decentralization that defines the crypto space.
Don’t get distracted by shiny objects.
— Cynthia Lummis 🦬 (@CynthiaMLummis) January 20, 2025
Strategic. Bitcoin. Reserve.
Washington is a swampy place. Decentralize the savings. #BitcoinAct pic.twitter.com/M3sMhRxewT
Trump’s crypto strategy is expected to include significant shifts in U.S. policy, including allowing U.S. banks to offer crypto trading services and potentially pardoning Ross Ulbricht, the founder of the Silk Road, a promise he made during his campaign.
Also Read: PEPE Faces Sharp Drop as TRUMP Token Overtakes: Is $0.000010 the Key Support for a Reversal?
As the crypto world awaits further developments, all eyes are on Trump’s next steps and the impact these executive orders could have on the digital asset landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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