Trump Crypto Executive Order: Will It Be Announced Soon?

Bittime - With the inauguration of Donald Trump as the 47th President of the United States on Monday, speculation is mounting regarding the possible announcement of an executive order focused on cryptocurrencies. 

Crypto Community Hopes for Trump's Promises

Many hope that Trump will fulfill long-awaited promises, such as the creation of a national bitcoin strategic reserve or the elimination of capital gains taxes on crypto assets.

Bitcoin Price After Trump's Inauguration

When this article was written, bitcoin price was around $102,000. Before the inauguration, bitcoin recorded an all-time high above $109,000, indicating hopes that a Trump presidency could push prices even higher with pro-crypto policies.

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Trump promises US “Crypto Capital”

During last year's campaign, Trump promised to make the US the "crypto capital" of the world and keep crypto innovation at home. There is speculation that Trump will fulfill this promise by launching a series of policies that are highly anticipated by the digital asset community, including possible policy changes such as eliminating capital gains taxes on cryptocurrencies or establishing a bitcoin strategic reserve. 

However, both of these measures are likely to require significant support from Congress.

Source: France24

The Trump Coin Phenomenon

On the other hand, the long-stressed crypto community remains divided over the launch of Trump's Solana-based meme coin, $TRUMP, whose value soared to nearly $11 billion. Melania Trump, First Lady, also launched i experienced the meme $MELANIA on the night before Trump's inauguration, which raised ethical concerns about using the presidency to promote cryptocurrencies.

Read too Trump's Inauguration and Its Impact on the Crypto Market

Crypto Market Movements After Trump's Inauguration

Even though Wall Street is closed for Martin Luther King, Jr. Day, analysts expect public crypto markets to open with optimism regarding bitcoin price movements this week, especially if Trump signs a crypto-related executive order that day.

Conclusion

With Trump's inauguration, many are looking forward to the steps he will take regarding cryptocurrencies. Will the expected executive order materialize? Only time will tell, but hopes for policies that support the crypto industry are growing stronger.

FAQ on Trump's Executive Order Regarding Cryptocurrencies

1. What to expect from Trump's executive order regarding cryptocurrencies?

Many hope Trump will announce policies such as the creation of a national bitcoin strategic reserve and the elimination of capital gains taxes on crypto assets.

2. How will the market react to Trump's inauguration and crypto policy?

The crypto market is showing optimism, with bitcoin prices hitting record highs before the inauguration, and analysts predict a positive move if Trump signs a crypto-related executive order.

3. What impact will the launch of $TRUMP and $MELANIA meme coins have?

The launch of the meme coin raised controversy and ethical concerns regarding the use of the presidency to promote cryptocurrency, even though the coin's market value soared significantly.

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Reference

CryptosRUs, Is Trump about to unleash a wave of crypto executive orders?, Accessed January 21, 2025

Author: IN