President-elect Donald Trump is preparing to issue a cryptocurrency-focused executive order within hours of taking office for his second term, sources familiar with the matter told Decrypt. This initial order is expected to mark the beginning of a broader crypto reform agenda.
The first directive will reportedly establish a presidential crypto council comprising around 20 industry leaders, including prominent founders and CEOs. Additionally, the order is likely to instruct the Securities and Exchange Commission (SEC) to repeal SAB 121—a rule discouraging U.S. banks from holding cryptocurrency. Although Congress voted to overturn SAB 121 last spring, the repeal was vetoed by President Joe Biden.
According to sources, Trump’s administration has been drafting additional executive orders addressing more complex cryptocurrency issues. These include directives for the SEC and the Commodity Futures Trading Commission (CFTC) to collaborate on unified crypto regulations and the establishment of international crypto innovation strategies by the State Department.
The comprehensive reforms are expected to roll out gradually, given the volume of executive orders Trump plans to issue in the early days of his presidency. “This staggered approach allows time for careful consideration of key issues,” one source said, emphasizing the importance of deliberation in shaping long-term crypto policies.
Bo Hines, Trump’s appointee to lead the crypto council, has reportedly been reaching out to policymakers to gather proposals for executive orders, with a submission deadline of January 15.
While Trump’s administration appears committed to advancing the cryptocurrency industry, the exact scope and timing of the proposed orders remain subject to change, given the dynamic nature of presidential priorities in the early days of his term.
