Trump Introduces Ambitious New Plan for Cryptocurrency in the US

The 47th President of the United States, Donald Trump, is expected to implement a significant 11-point plan for
cryptocurrencies
following his election victory. This plan aims to position the U.S. as a global
cryptocurrency
hub. Key proposals within Trump’s cryptocurrency agenda include the dismissal of
SEC
Chairman Gary Gensler, the establishment of a national Bitcoin reserve, and the elimination of capital gains tax on cryptocurrencies.
Contents
Establishment of a National Bitcoin Reserve and Tax Exemption
Creation of the Presidential Advisory Council on Cryptocurrency
Establishment of a National Bitcoin Reserve and Tax Exemption
Among Trump’s most impactful cryptocurrency promises is the establishment of a “National Bitcoin Reserve” in the U.S. He stated that the government currently holds 203,650 BTC (approximately $14.95 billion), emphasizing that these assets should contribute to the U.S. economy.


He also mentioned the complete removal of capital gains tax on Bitcoin (BTC)


$
75,519
, which would create a more appealing environment for investors. These steps are expected to particularly attract cryptocurrency investors in the U.S.
Creation of the Presidential Advisory Council on Cryptocurrency
Additionally, Trump announced the formation of a “Presidential Advisory Council on Bitcoin and Cryptocurrency” to promote the growth of the cryptocurrency sector in the U.S. This council will advise the President on the regulation and development of cryptocurrencies. Trump emphasized the importance of protecting citizens’ rights to self-custody of their cryptocurrencies, supporting individual financial freedom.
Trump has also declared his opposition to Central Bank Digital Currencies (CBDCs), indicating a reluctance to adopt such digital currencies under his management. Furthermore, a noteworthy aspect of his cryptocurrency promises includes a commitment to reduce the prison sentence of Ross Ulbricht, the founder of Silk Road.
While there is significant curiosity about whether this 11-point plan will be executed, Trump’s promises to reduce pressure on the cryptocurrency sector have already generated positive reactions in the market. Even before the official election results were announced, Bitcoin celebrated Trump’s victory by surging past the $75,000 threshold, reaching an all-time high of $75,656.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.