TL;DR

The Trump administration plans to implement pro-crypto policies, including executive orders to establish a Bitcoin reserve and lift banking restrictions on cryptocurrency companies. 
Key appointments like David Sacks and Paul Atkins indicate a favorable shift toward the crypto sector and digital asset technologies. 
Prioritizing US-based cryptocurrencies, such as Solana, USD Coin, and Ripple, is being considered for a potential strategic digital reserve. 

With Donald Trump’s announcement of pro-crypto policies, the cryptocurrency industry in the United States is breathing a sigh of relief after years of what experts have called “regulatory harassment” under the Biden administration. This significant shift is highlighted by the promise to eliminate “debanking” (the refusal of banks to work with crypto companies) and strategic appointments of crypto-friendly figures like David Sacks, who will lead artificial intelligence and cryptocurrency initiatives, and Paul Atkins, nominated to chair the SEC. These proactive measures mark a crucial turning point for a sector that has long felt excluded from the traditional financial system. 

The End of Debanking and New Horizons for Crypto Startups

Under the Biden administration, regulators like the FDIC made banking operations difficult for cryptocurrency companies, forcing many startups to move abroad or abandon projects before launching. According to investor Nic Carter, this was labeled “Operation Chokepoint 2.0,” a strategy he saw as an attack on legitimate businesses connected to the sector. 

With the elimination of debanking, a renaissance of crypto startups in the US is expected. Dennis Dinkelmeyer, CEO of Midas, a European crypto investment firm, is already planning to expand into the US.

“There’s excitement in the market, and major projects like TON are looking at the United States for the first time in years,”

he remarked. 

Strategic Reserves and Sector Controversies

One of the most controversial proposals is the creation of a strategic digital asset reserve prioritizing US-based coins such as Solana, USD Coin, and Ripple. While Trump has shown interest in this idea, some experts fear it could undermine Bitcoin’s legitimacy, which is seen as the cornerstone of cryptocurrencies.  

The first step toward this change will occur at the Crypto Ball, an event in Washington, DC, sponsored by companies like Coinbase, Solana, and MicroStrategy, celebrating the new administration and its renewed focus on cryptocurrencies.  

Meanwhile, industry advocates hope these policies will not only boost the adoption of Bitcoin and digital assets but also establish a clear, fair, efficient, and friendly regulatory framework that enables the industry to thrive in the country. 

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Filed under: News - @ January 16, 2025 2:21 pm