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As President Donald Trump prepares to take office, the cryptocurrency sector is actively lobbying for the establishment of a U.S. Bitcoin reserve. This push coincides with Trump’s inauguration on January 20, as the industry seeks to implement pivotal directives right from the start of his administration. What Are the Plans for Bitcoin Reserves?What Changes Can We Expect in Crypto Policy? What Are the Plans for Bitcoin Reserves? Following Trump’s swearing-in, the cryptocurrency community is urging him to create a regulatory landscape that favors digital currencies, aligning with his previous campaign promises. The sentiment within the sector is buoyant, as many refer to Trump as the “crypto president.” What Changes Can We Expect in Crypto Policy? The Bitcoin Policy Institute has submitted a detailed proposal for establishing a national Bitcoin reserve, suggesting that the Treasury Secretary allocate $21 billion within a year to support this initiative. Trump’s announcement to end Operation Choke Point, which impacted crypto firms, signals a potential shift in the administration’s approach to cryptocurrencies. – The U.S. must act promptly rather than react to market fluctuations. – The establishment of a Bitcoin reserve could enhance U.S. competitiveness against other nations. – A supportive regulatory environment could foster innovation in the crypto sector. The crypto industry anticipates the introduction of pertinent executive orders within Trump’s first 100 days, with speculation around whether these orders can establish a federal Bitcoin reserve or will require Congressional intervention. Competing nations such as Bhutan and Germany are already advancing in this sphere, prompting U.S. stakeholders to stress the urgency of their initiatives to maintain leadership in the digital currency space. Efforts to create a Bitcoin reserve could significantly bolster America’s position in the cryptocurrency market, yet the success of these initiatives hinges on the alignment of executive actions with legal and Congressional frameworks.…

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Filed under: News - @ January 10, 2025 4:18 am