According to breaking news, Trump is considering issuing an executive order to create a Bitcoin reserve using potentially seized BTC. The expected order could come today (March 7).
According to known details, the Bitcoin reserve can be created using captured BTC.
For many in the crypto world, the summit symbolizes a significant shift in the political landscape following the regulatory crackdown following the collapse of FTX.
“This represents a turning point for the industry,” said JP Richardson, CEO of digital wallet provider Exodus Movement Inc., who was present at the meeting. “The Biden administration has been actively hostile to our industry. Now being in the White House, discussing crypto policy with the president, shows that this administration takes crypto seriously.”
Sources familiar with the matter suggest that the summit is likely serving as a platform for several crypto-focused executive actions. Possibilities include the government halting the sale of confiscated cryptocurrencies and instead using them to create a national stockpile. The creation of a special Bitcoin reserve, potentially involving further purchases of the digital currency, is also on the table. Additionally, potential regulations regarding the tax treatment of cryptocurrencies are being explored, but these would likely require Congressional review and approval. It’s important to note that these actions are still under discussion and subject to change.
*This is not investment advice.
