Trump's Crypto Order to Ease Banking Restrictions, Boost Industry

President Donald Trump is poised to sign a cryptocurrency-related executive order this week, with the primary objective of overturning banking restrictions that have been imposed on cryptocurrency firms. This move is part of a broader strategy by the Trump administration to advance its policy agenda through executive orders, which have become a crucial tool for implementing key priorities.

The forthcoming executive order is expected to specifically target anti-crypto policies, potentially easing the regulatory burdens that have been placed on cryptocurrency firms. This action follows a series of initiatives by the Trump administration aimed at promoting the use of digital assets, including the establishment of a strategic bitcoin reserve and a US Digital Asset Stockpile. These initiatives are managed by the Treasury Department and are funded through bitcoin and other cryptocurrencies confiscated during criminal or civil asset forfeiture proceedings.

Trump's focus on cryptocurrency is part of a larger strategy to position the United States as a global leader in digital asset technology. The administration has been actively engaging with industry leaders and promoting the use of cryptocurrencies to enhance financial inclusion. This approach marks a significant shift from the previous administration's stance on crypto regulation, indicating a notable change in policy direction.

The executive order is anticipated to address various aspects of cryptocurrency regulation, including banking restrictions that have hindered the growth of the industry. By lifting these restrictions, the Trump administration aims to foster innovation and attract more investment in the digital asset sector. This move is expected to have a positive impact on the cryptocurrency ecosystem, providing greater flexibility for firms to operate and innovate.

In addition to the executive order, the Trump administration has been actively monitoring the implementation of its policy priorities through various agency actions and personnel changes. The administration's approach to cryptocurrency regulation is part of a broader effort to promote economic growth and technological advancement, aligning with Trump's vision for the country's future.

The source revealed that the order may involve the Federal Reserve's "master account" policy to ease crypto bank access. However, as an independent entity, the Fed's policies are usually not directly influenced by the White House. In addition, the executive order may cover stablecoin regulation, clarifying that stablecoins should not be considered securities. Senior White House officials plan to meet on Thursday to assess the potential legal obstacles of the executive order before submitting it for President Trump's signature.