Where Crypto Policy And Regulations Are Headed Under President Trump #CriptoNews

President Trump is expected to sign Executive Orders elevating crypto to a national policy priority and forming a Presidential Council of Advisers for Digital Assets, or ‘Crypto Council.’ Meanwhile, Trump’s designation of Acting Chairmen at U.S. regulators is already showing positive progress for the crypto industry.

While the Executive Orders (E.O.) for crypto did not appear in the initial batch that were signed quite visibly on Day One by the new President yesterday, both in Capital One Arena as well as the Oval Office, the crypto industry is hoping to see Trump roll out a more positive framework for digital assets than the prior Biden Administration.

The prospective Crypto Council is expected to be made up of 24 individuals, including private sector founders and CEOs. Furthermore, an E.O. may contain a directive for all government agencies to review policies on digital assets and potentially pause litigation involving crypto companies.

“The creation of a crypto council by President Trump could serve as a pivotal public-private partnership to facilitate cross-agency coordination, inform consistent regulatory frameworks, and promote global alignment, not just for today’s markets but with an eye toward future-proofing policies to foster innovation and secure America’s position at the forefront of digital assets and emerging technologies,” said Stacey Rolland, founder and CEO, Zero One Strategies, a government relations and advisory firm focused on emerging technology policy.

Other possibilities that may appear in one or more E.O.’s include potential tax relief and capital gains clarification for crypto owners, crypto payment acceptance, and tax breaks for U.S.-based crypto companies. Additionally, an E.O. explicitly banning the formation of a ‘digital dollar’ or CBDC may be signed.

It is largely anticipated the 24 crypto insiders of the Crypto Council would help formulate policies for the crypto space and advise the President on digital assets. Industry leaders who are expected to serve on the Crypto Council reportedly recently visited and met with Trump in Florida at Mar-a-Lago.

Formation of the Crypto Council within the White House would likely cement the notion that the Trump Administration is elevating crypto as a national priority. Meanwhile, the decision of the American electorate to put Trump in office has resulted in a changing of the guard with U.S. regulators who directly affect crypto. Some of these changes are already resulting in positive developments for the industry ahead of the confirmation of nominees who would take over some crucial agencies that have a direct impact on the space.

With the former SEC Chair Gary Gensler resigning on January 19, Trump appointed SEC Commissioner Mark Uyeda as the Acting Chair of the SEC. Uyeda has been positive in the past on digital assets, and an announcement today shows SEC Commissioner Hester Peirce will lead a new crypto task force that will be dedicated to developing a comprehensive and clear regulatory framework for crypto assets.

After what the crypto industry has experienced over the last four years in terms of enforcement actions against major U.S. exchanges and the inability to get the agency to issue rulemaking for digital asset tokens, this SEC Crypto Task Force would be a huge initial victory as a result of the Trump Administration. Uyeda and Peirce will likely not make any major decisions until Trump’s nominee for SEC Chair, Paul Atkins, is confirmed by the U.S. Senate.

The Federal Deposit Insurance Corporation (FDIC) has seen the departure yesterday of Chair Martin Gruenberg, who was seen as largely negative to crypto by that industry. The FDIC has been called out for putting ‘pauses’ on the implementation of crypto lines of business by banks, as well as potentially targeting individuals and businesses in the crypto industry for ‘debanking’ that some refer to as Crypto Chokepoint 2.0.

Trump has also appointed the new Acting Chair of the FDIC, Travis Hill, who released a statement describing a “more open-minded approach to innovation and technology adoption, including (1) a more transparent approach to fintech partnerships and to digital assets and tokenization, and (2) engagement to address growing technology costs for community banks”. Prior to becoming the Acting Chair, Hill already signaled positive policy moves for digital assets and tokenization, as well as expressing concerns on debanking.