President-elect Trump is urged by the cryptocurrency industry to fulfill his "crypto president" pledge by issuing executive orders that address banking access, bitcoin reserves, and crypto regulation.

When President-elect Donald Trump takes office next month, the cryptocurrency sector is urging his staff to begin the promised reforms to crypto policy. Executive directives that might propel cryptocurrency into the mainstream are something industry leaders wish to see. Trump has vowed to be a "crypto president" and is anticipated to sign a number of executive orders on January 20, his first day in office, covering topics including energy, immigration, and cryptocurrencies.

Crypto leaders want Trump to follow through on his promise to establish a crypto council, ensure the industry has access to financial services, and build a bitcoin stockpile. They anticipate that these directives will be issued during the first 100 days of his presidency. On the day of his inauguration, industry leaders are urging at least one order.

With the nomination of David Sacks as the White House crypto czar and Paul Atkins as the head of the SEC, Trump's crypto policy team is beginning to take shape. Trump intends to undo the Biden administration's stringent crypto regulations, which have targeted cryptocurrency businesses. The government wants to encourage innovation and American leadership in the field of cryptocurrency, according to Brian Hughes, a spokesman for the Trump transition team.

Analysts disagree on whether Trump may utilize his executive authority to establish a strategic bitcoin reserve or if Congress must take action after the price of bitcoin recently hit all-time highs around $107,000. A possible executive order to establish a $21 billion national Bitcoin stockpile has been proposed by one organization, the Bitcoin Policy Institute.

Additionally, Trump has pledged to prevent banks from preventing cryptocurrency businesses from using conventional financial systems. Although it might not have legal power, several crypto executives anticipate an executive order addressing this problem. Like previous administrations, Trump also intends to establish a council for the crypto business and may issue an order that establishes standards for crypto regulations, assisting agencies in reviewing current regulations in this area.