Trump to Sign Crypto-Friendly Executive Order on Inauguration Day
President-elect Donald Trump is set to sign an executive order on January 20, 2025, his inauguration day, benefiting the cryptocurrency industry. The order aims to address 'debanking' and repeal the controversial SAB 121 accounting standard, marking a radical shift in U.S. regulatory policy towards cryptocurrencies.
The executive order, if signed, could attract more investments and talent to the U.S., solidifying its position as a global leader in fintech. Trump's decision is supported by influential figures like Marc Andreessen and Elon Musk. Brian Hughes, spokesman for Trump's transition team, stated the priority is to safeguard online freedom of expression, reduce big tech censorship, and develop a legal framework for the cryptocurrency industry.
Ross Delston is expected to serve as an advisor to president-elect Trump on the crypto industry in January 2025. He will engage by advising on regulatory and financial matters related to cryptocurrencies and warning about risks of shady investors gaining political influence through digital coins. David Sacks, the newly appointed 'crypto czar' of Trump, will work with industry leaders to reverse the SAB 121 policy. Trump aims to ensure American technology companies win the global race against China by promoting pro-crypto policies.
The executive order, if signed, could reverse ineffective regulations from the Biden era and prioritize technological innovation. It is expected to foster a more innovation-friendly environment for the cryptocurrency industry in the U.S.
Read also:
- Web3 gaming platform, Pixelverse, debuts on Base and Farcaster networks
- Cannabis-Focused CTV Channel Citizen Green Launches for Global Streamers
- Goodyear in 2025: Advancement in Total Mobility through the Launch of Kmax Gen-3 by Goodyear
- Boston Metal pioneers route to commercial production for eco-friendly steel method
