Trump's Crypto Agenda: 100-Day Mark Sees 180% Policy Shift, Bitcoin Reserve Established

President Donald J. Trump has made significant strides in his cryptocurrency agenda within the first three months of his second term. During his 2024 campaign, Trump pledged to end the regulatory crackdown on crypto, remove SEC Chair Gary Gensler, and position the United States as the global leader in bitcoin and blockchain innovation. He has delivered on most of these promises with characteristic flair.

Gary Gensler, the former Chair of the Securities and Exchange Commission, resigned on January 20th, just one day before Trump's return to office. Gensler's tenure was marked by an aggressive regulatory approach to digital assets, and his resignation is seen as a strategic move aligned with Trump's agenda.

Trump quickly followed through on his campaign promises by establishing the Presidential Working Group on Digital Asset Markets, fulfilling his pledge to create a digital asset advisory council within his first 100 days. He also appointed David Sacks, a prominent crypto advocate and member of the PayPal founding team, as the White House AI and Crypto Czar. Sacks, who has a substantial background in digital assets, has taken steps to distance himself financially from the industry, selling over $200 million in digital asset-related investments.

Trump's administration has taken concrete actions to position the U.S. as a leader in cryptocurrency. One of the most significant developments is the creation of a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. The federal government has begun holding seized bitcoin, treating it as a strategic asset comparable to gold. Bo Hines, Executive Director of the Presidential Council of Advisers for Digital Assets, stated that the U.S. aims to accumulate as much bitcoin as possible. This move is seen as a geopolitical strategy to counter other crypto-ambitious powers.

Trump has also ended what he labeled the “Biden War on Crypto.” He signed an executive order titled, Strengthening American Leadership in Digital Financial Technology, which prohibits the development of a U.S. central bank digital currency (CBDC), repeals President Biden’s 2022 Executive Order 14067, and outlines measures to safeguard the legal rights of Americans to hold, use, and mine cryptocurrency. This policy shift signals an industry-friendly agenda, focusing on stablecoin frameworks and open banking initiatives.

Trump has outlined plans to make the United States the global hub for bitcoin mining. He stated that all remaining bitcoin should be “mined, minted, and made in the USA” to reinforce national energy and economic leadership. He also plans to expand energy infrastructure, framing digital assets as central to America’s economic future.

In just over 75 days, Trump has fulfilled several of his campaign promises, including removing Gensler, establishing a Bitcoin Reserve, appointing a Crypto Czar, launching a digital asset advisory group, reversing Biden-era policies, banning a U.S. CBDC, and calling for domestic bitcoin mining dominance. While these actions have generated enthusiasm within the digital asset industry, they have also faced criticism for potentially favoring large market players and lacking adequate oversight. The response from Congress to these sweeping regulatory changes remains uncertain.