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President-elect Donald Trump is poised to issue an executive order to declare cryptocurrency a national priority and include industry experts in his administration, according to a report published Thursday.
What happened: Strategic language was used to encourage government agencies to get involved in the expanding industry, whose most valuable asset, Bitcoin (CRYPTO: BTC), surpassed the $2 trillion estimate in recent days, Bloomberg reported, citing people familiar with the plans.
Among the proposals being considered for inclusion in the executive order is a directive to all federal agencies to review their digital asset policies and potentially halt any ongoing cryptocurrency-related litigation.
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Another idea being considered is the establishment of a national Bitcoin reserve that would include current government holdings of Bitcoin. This was one of the Trump’s biggest election promises get support from cryptocurrency enthusiasts.
However, the executive order is not final and could undergo additional changes before it is published, Bloomberg said.
A Trump spokesman did not immediately respond to Benzinga’s request for comment.
See also: If there is a new fund backed by Jeff Bezos that offers a 7-9% target yield with monthly dividend would you invest in it?
Why it matters: As Trump’s inauguration day approaches, speculation about his cryptocurrency statements has grown.
Recent reports suggest a shift in cryptocurrency-focused policy by the new administration. David SacksTrump’s AI and crypto czar reportedly worked with industry leaders to develop the legislative agenda.
Besides, Trump was expected to tackle controversial laws like SAB 121which limits the ability of banks to offer digital asset custody services.
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