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Incoming US President Donald Trump is expected to sign an executive order to make digital assets a national priority on his first day in the White House, according to multiple reports.
In a Jan. 17 report, Bloomberg cited people familiar with the matter, and said regulatory agencies would be guided to work with the industry under the new executive order. A crypto council could also be created to advocate for the crypto sector, it added.
Trump Preparing To Make America A “Crypto Capital”
The Bloomberg report comes after Trump made a series of promises to the crypto community during the 2024 elections. Most of the promises related to introducing more crypto-friendly policy as part of an effort to make the US a “crypto capital.”
The President-elect is expected to sign the executive order on Jan. 20, Bloomberg said, adding that it’s still possible the plan will change. Crypto executives have already offered input to Trump’s crypto czar David Sacks on an executive order that covers multiple areas of crypto policy.
Similar to the Bloomberg report, the Washington Post said that Trump will is expected to sign an executive order on Jan. 20 that relates to crypto de-banking. He is also expected to repeal a bank accounting policy that requires banks who custody crypto to record the digital assets as liabilities on their balance sheets.
SEC Could Abandon Crypto Cases Under New Administration
The US Securities and Exchange Commission (SEC) is expected to drop some of its lawsuits against crypto companies that do not relate to fraud allegations, according to a Jan. 15 Reuters report.
This comes after the regulator filed an appeal for a key ruling made in its case against Ripple Labs earlier this week. The firm’s chief legal officer Stuarty Alderoty criticized the SEC for rehashing arguments that have “failed” in the past. He also predicted that the long-running lawsuit between Ripple and the SEC will be “abandoned by the next administration.”
As expected, the SEC’s appeal brief is a rehash of already failed arguments –and likely to be abandoned by the next administration. We’ll respond formally in due time. For now, know this: the SEC’s lawsuit is just noise. A new era of pro-innovation regulation is coming, and… https://t.co/3ZxO64Fs8C
— Stuart Alderoty (@s_alderoty) January 16, 2025
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