President-elect Donald Trump is poised to take sweeping action on cryptocurrency as soon as he assumes office. According to a report from the Washington Post, his administration has made bitcoin and digital asset regulations a top priority.
A source within Trump’s transition team revealed that the incoming administration’s initial executive orders could address debanking, an issue spotlighted by Melania Trump in her 2024 memoir, and aim to repeal SAB 121, a controversial policy requiring banks to count digital assets as liabilities on their balance sheets.
Industry Giants Advocate for Change
The repeal of SAB 121 has been strongly championed by MicroStrategy CEO Michael Saylor. He has argued that dismantling the rule, alongside introducing spot ETFs and fair-value accounting standards, could push Bitcoin’s market capitalization to an unprecedented $100 trillion.
The momentum surrounding these potential reforms has already influenced the market, with bitcoin prices surging from $90,700 to over $99,000 within two days of the news.
Presidential Crypto Council and Pro-Crypto Appointees
Trump’s anticipated executive orders include forming a Presidential Crypto Council comprising roughly 20 prominent industry leaders. Analysts predict this will be the first in a series of major crypto-related actions under Trump’s leadership.
Further signaling his commitment to the sector, Trump has appointed several pro-crypto advocates to his administration, including:
- David Sacks: First-ever Crypto Czar
- Paul Atkins: SEC Chairman
- Howard Lutnick: Secretary of Commerce
- Scott Bessent: Treasury Secretary
A New Era for Digital Assets?
Experts believe these moves reflect Trump’s ambition to position the U.S. as a leader in cryptocurrency adoption and innovation. The global digital asset industry is likely to watch these developments closely, as they could shape market trends and regulatory frameworks worldwide.
