Trump Prepares Pro-Crypto Executive Order to Ease Regulations
President-elect Donald Trump is expected to sign a pro-crypto executive order on his first day in office, aiming to curb overregulation and support the cryptocurrency industry, according to the Washington Post.
Sources familiar with the discussions say Trump’s team, led by incoming crypto advisor David Sacks, has been working with industry leaders to address concerns over restrictive banking policies and regulatory burdens. The executive order may target “debanking,” where financial institutions limit or close crypto firms’ accounts, and could also seek to repeal Staff Accounting Bulletin (SAB) 121, a rule that critics argue discourages businesses from holding digital assets.
A source close to the talks stated, “The Trump team has made it clear that crypto policy is a priority.” The administration reportedly aims to remove regulatory and tax barriers that hinder growth, fostering a more favorable environment for blockchain innovation.
Brian Hughes, a spokesperson for Trump’s transition team, emphasized the broader commitment to protecting online free speech, limiting Big Tech censorship, and creating a legal framework for cryptocurrency. “With support from entrepreneurs eager for change, President Trump and David Sacks will ensure the crypto industry thrives in the U.S.,” Hughes said.
Additionally, Trump’s administration is reportedly considering appointing tech-friendly officials across key government agencies, including the White House and Pentagon, to drive innovation and support emerging industries.
Featured image from: reddit.com