Trump is shaking up the crypto world again. His January 2025 executive order isn’t just another policy shift – it’s a complete overhaul of America’s digital asset strategy. Gone are Biden’s frameworks and CBDC dreams. In their place? A bold new vision focused on public blockchains, stablecoins, and maybe even a national crypto stockpile.
Trump’s executive order scraps Biden’s crypto playbook, betting big on public blockchains and a possible national digital treasury.
But here’s where things get interesting. The much-hyped Presidential Council of Advisers for Digital Assets, meant to be crypto’s dream team led by David Sacks and Bo Hines, suddenly morphed into something entirely different. Instead of a formal council, we’re getting a series of informal summits. Why? Well, it turns out Ripple might have had something to do with it.
Behind the scenes, Ripple’s been busy. Their lobbying efforts reportedly pushed for XRP inclusion in federal reserves, while XRP trades at $2.54. But their aggressive moves seemingly backfired, pushing the administration toward a Bitcoin-first approach. Talk about playing yourself. The initiative leverages smart contracts to automate and streamline government operations.
The new summit format isn’t just damage control – it’s strategic. By rotating industry leaders and focusing on specific issues like banking, payments, and Bitcoin mining, the administration hopes to navigate the crypto industry’s internal divisions. Less formal, more flexible, and probably less dramatic. The order establishes a Working Group to oversee these initiatives and provide recommendations within 180 days.
Meanwhile, Trump‘s executive order has set some serious wheels in motion. The SEC’s got Hester Peirce leading a new Crypto Task Force, and they’ve already ditched that pesky Staff Accounting Bulletin 121 that was giving financial institutions headaches about crypto custody. The order specifically revokes Executive Order 14067 and all related Biden-era digital asset policies.
Perhaps the most intriguing part is the potential Strategic Cryptocurrency Reserve. While the Senate Panel’s pushing for a Bitcoin-only approach, the administration’s keeping its options open. David Sacks confirmed they’re studying “the feasibility of a bitcoin reserve,” but questions about volatility and soundness remain unanswered.
The Working Group has until July 22, 2025, to submit their proposals. One thing’s clear – Trump’s crypto strategy isn’t just about regulation. It’s about reshaping America’s entire approach to digital assets. Whether it works? Well, that’s another story.
