Trump Expected to Indicate Government Directives on Cryptocurrency De-Banking Insurance on First Day: Report

As U.S. President-elect Donald Trump gets ready to return to the White House on January 20, his initial day in office could be characterized by executive actions that may significantly impact the cryptocurrency sector.

According to a report by The Washington Post on January 13, Trump is likely to focus on executive orders that tackle crypto de-banking and amend a contentious banking accounting policy.

The anticipated orders include the repeal of a policy implemented under the Biden administration, which mandates banks holding cryptocurrency to categorize the digital assets as liabilities.

This policy originates from the Securities and Exchange Commission’s March 2022 Staff Accounting Bulletin, SAB 121, which has faced opposition from the crypto industry.

Trump Team to Overturn SAB 121

The Trump team has reportedly highlighted the urgency of reversing these policies, with sources close to the discussions affirming their high priority.

The crypto industry has long criticized the Biden administration for what it views as a targeted crackdown, referred to as “Operation ChokePoint 2.0,” aimed at restricting the sector’s access to financial services.

Industry leaders have urged Trump to take decisive actions, including issuing crypto-related executive orders, within his first 100 days in office.

Some insiders anticipate that at least one such order could be signed on his inauguration day.

In addition to crypto-focused policies, Trump’s administration is expected to revisit other technology-related regulations.

David Sack, Trump’s appointed crypto and artificial intelligence advisor, recently indicated intentions to revoke Biden’s 2023 AI executive order.

This order had faced criticism from conservatives for its focus on promoting equity through AI technologies.

*TRUMP TO ISSUE EXECUTIVE ORDERS RELATED TO CRYPTO ON DAY ONE@DavidSacks ready to roll. pic.twitter.com/ez1CDMeRd0

— Geiger Capital (@Geiger_Capital) January 13, 2025

Meanwhile, venture capitalist Marc Andreessen has reportedly played a key role in shaping Trump’s incoming administration.

Known for his investments in technology and crypto, Andreessen has been actively recruiting candidates for important positions, including roles in technology, defense, and intelligence.

During his campaign, Trump committed to strengthening the U.S. crypto sector, promising a Bitcoin strategic reserve and reduced regulatory barriers.

New Hampshire and North Dakota Latest U.S. States to Propose Bitcoin Reserves

New Hampshire and North Dakota have introduced legislation to establish strategic Bitcoin reserves, reflecting a growing trend among U.S. states to diversify their treasuries with cryptocurrency.

Previously, Ohio proposed adding Bitcoin to its treasury reserves, following the introduction of a new bill by House Republican leader Derek Merrin.

Similarly, on December 12, 2024, Texas Representative Giovanni Capriglione introduced the Texas Strategic Bitcoin Reserve Act, which suggests that the state comptroller hold Bitcoin as a reserve asset for at least five years.

Pennsylvania took a comparable step in November, with Representative Mike Cabell proposing a bill to allow its treasury to allocate up to 10% of its balance sheet in Bitcoin, citing the asset’s potential to hedge against economic uncertainty.

Additionally, corporate Bitcoin holders like MicroStrategy and Metaplanet have increased their Bitcoin holdings.

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