President Donald Trump Sets New Direction for Cryptocurrency in U.S.
President Donald Trump Unveils Bold Crypto Strategy With Strategic Bitcoin Reserve Plan, Marking New Era For Digital Assets In the U.S.
| Key Takeaways: – President Donald Trump revealed plans to establish a Strategic Bitcoin Reserve, using government-held Bitcoin and pledging not to sell it. – Trump criticized Biden’s restrictive crypto policies, terminated Operation Chokepoint 2.0, and implemented SEC changes that dropped lawsuits against major exchanges. |
In a significant policy announcement, President Donald Trump outlined plans for cryptocurrency development and introduced the Strategic Bitcoin Reserve initiative, marking a departure from previous regulatory approaches.
The administration aims to establish the US as a frontrunner in the global cryptocurrency sector by dismantling restrictive regulations.
At the White House Crypto Summit, Trump criticized former President Joe Biden for the strict regulatory stance on Bitcoin and other digital assets.
“My administration is working to end the federal bureaucracies’ war on crypto which was really going pretty wildly during Biden until the election came about,” Trump stated.
The President pointed out that while some regulatory easing occurred near election time, his administration’s strategy focuses on sustainable, long-term industry development.
A cornerstone of the new policy framework includes establishing the Strategic Bitcoin Reserve, utilizing Bitcoin assets currently held through federal asset forfeiture programs.
“Our commitment to make America lead in Bitcoin and cryptocurrency is becoming reality through these historic policy changes,” Trump stated during the announcement.
Trump’s crypto advisor, David Sacks, explained that the government’s Bitcoin holdings will be maintained as a value reserve, with a commitment against liquidation. The Treasury and Commerce Department have been tasked with exploring Bitcoin acquisition strategies that protect taxpayer interests.
Trump also highlighted that under his leadership, the SEC has rapidly transformed its regulatory approach, withdrawing legal actions against prominent exchanges like Coinbase and Kraken, while providing supportive industry guidance.
The administration also terminated Operation Chokepoint 2.0, removing financial service restrictions for cryptocurrency businesses.
| Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor. |
