| Key Points: – President Donald Trump announced the creation of a Strategic Bitcoin Reserve, using government-held Bitcoin and pledging not to sell it. – Trump criticized Biden’s restrictive crypto policies, ended Operation Chokepoint 2.0, and facilitated SEC reforms that dropped lawsuits against major exchanges. |
President Donald Trump has announced a major shift in U.S. cryptocurrency policy, unveiling plans for a Strategic Bitcoin Reserve and reversing restrictive measures imposed by the previous administration.
Trump vowed to end what he described as the government’s “war on crypto” and position the U.S. as a global leader in the sector.
President Donald Trump Ends Restrictive Crypto Policies, Paving the Way for Industry Growth
Speaking at the Crypto Summit at the White House, President Donald Trump criticized former President Joe Biden for his administration’s strict regulatory stance on Bitcoin and other digital assets.
“My administration is working to end the federal bureaucracies’ war on crypto which was really going pretty wildly during Biden until the election came about,” Trump stated.
President Donald Trump accused the previous administration of only easing restrictions for political gain before the elections, asserting that his approach would provide long-term stability for the industry.
A key element of Trump’s policy shift is the formation of the Strategic Bitcoin Reserve, which will be seeded with Bitcoin already held by the federal government through asset forfeiture.
“Last year, I promised to make America the Bitcoin superpower of the world and the crypto capital of the planet, and we’re taking historic action to deliver on that promise,” the US President said.
U.S. Government Pledges Not to Sell Bitcoin
According to David Sacks, Trump’s crypto advisor, these holdings will serve as a store of value, with the government pledging not to sell its Bitcoin assets. Additionally, Trump directed the Treasury and Commerce Department to explore ways to accumulate more Bitcoin without burdening taxpayers.
Trump also highlighted the rapid policy changes under his leadership, noting that the Securities and Exchange Commission (SEC) has reversed its aggressive stance on crypto firms.
The agency has dropped lawsuits against major exchanges, including Coinbase and Kraken, and issued legal guidance to support the industry. Furthermore, Trump formally ended Operation Chokepoint 2.0, a policy that had restricted financial services for crypto businesses.
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