Crypto Expected To Be Policy Priority Under New Govt

US President-elect Donald Trump is planning to release an executive order elevating crypto as a policy priority and giving industry insiders a voice within his administration, according to people familiar with the plans.

- BLOOMBERG

WASHINGTON -

The order is expected to name crypto as a national imperative or priority – strategic wording intended to guide government agencies to work with the industry, according to people familiar with the matter.

It is also slated to create a crypto advisory council to advocate for the industry's policy priorities, said the people, who requested anonymity to discuss an executive order that is not yet public.

That would be a sea change for crypto, which has been a target for investigations during President Joe Biden's administration following a spate of high-profile fraud cases, including the bankruptcy of the FTX exchange.

Federal agencies including the Securities and Exchange Commission filed more than 100 enforcement actions against the sector in recent years, and banking regulators made it difficult for crypto companies to work with financial institutions.

Still under discussion for inclusion in the executive order is a directive for all government agencies to review policies about digital assets and possibly pause any litigation involving crypto, the people said.