Newly elected President Donald Trump could sign a crypto-friendly regulation via executive order on his first day in office, according to a new report from the Washington Post.
According to a person “involved in the talks,” Trump’s new crypto czar David Sacks and other insiders have been working with “crypto leaders” to create a legislative strategy that could end the industry’s unfair treatment banks and regulators.
According to the Washington Post, Trump could sign an executive order to address the issue of “debanking” — the political closing of crypto companies’ bank accounts — and also revoke Staff Accounting Bulletin (SAB) 121, the administration’s policy directive that requires companies to list digital assets as liabilities on their balance sheets.
Says the unnamed source:
“The Trump team has made it very clear that this is a priority.”
In a statement to The Washington Post, Brian Hughes, a spokesman for Trump’s transition team, said there have been attempts from within DC’s “bureaucratic swamp” to stifle technological innovation with unnecessary regulations and taxes, something the new administration will put an end to. want to create.
“With the support of many entrepreneurs happy to turn the page on the past four years, President Trump and David Sacks will safeguard freedom of expression online, steer us away from big tech censorship, and develop a legal framework so that the crypto industry can thrive. the United States.”
Another person familiar with the plans told the Washington Post that several tech-friendly leaders will likely be “spread out all over the place” and appointed to various government agencies — including the White House, the Pentagon, the Department of Health and Human Services — to further their promote agenda.
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