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As a U.S. court has allowed the government to sell 69,370 Bitcoins that were trafficked via the Silk Road, the crypto industry is pressuring President-elect Donald Trump’s team to begin revamping cryptocurrency policy when he takes office next month.
The crypto industry is lobbying Donald Trump to issue an executive order within 100 days of taking office to establish a U.S. Bitcoin Reserve, provide the industry with access to banking services and create a crypto advisory committee, Reuters reported.
Two people familiar with the matter told Reuters that efforts are being made to issue such executive orders targeting cryptocurrencies within the first 100 days of Trump taking office, with at least one of them expected to be issued on Jan. 20.
“Given the trajectory of the campaign, it will be imperative that the executive orders really lay out what the real priorities are going to be from day one and provide some kind of roadmap,” Rebecca Rettig, chief legal and policy officer at Polygon Labs, told Reuters.
Trump’s transition team spokesman Brian Hughes said Trump is committed to his cryptocurrency promises, adding:
“Despite Washington being mired in bureaucratic morass, there are still efforts to stifle innovation. But President Trump will deliver on his promise to promote American leadership in crypto.”
The leading cryptocurrency, Bitcoin, reached a new record above $108,000 in December after Trump reiterated a strategic Bitcoin reserve plan that he first outlined in a speech in July. However, Bitcoin has since fallen below $100,000 after failing to hold those levels.
*This is not investment advice.