Former President Donald Trump declared an end to the U.S. government’s battle against cryptocurrencies, signing a sweeping executive order on January 23, 2025, that flips Biden-era policies on their head. The order, dramatically titled “Strengthening American Leadership in Digital Financial Technology,” doesn’t just tweak existing rules – it completely demolishes them, starting with the total revocation of Biden’s Executive Order 14067.
The crypto markets didn’t waste time responding. Bitcoin shot up to a jaw-dropping $109,114 on January 20, and industry bigwigs couldn’t contain their excitement. Ripple’s Brad Garlinghouse and Cardano’s Charles Hoskinson practically fell over themselves praising Trump’s move. Who can blame them? The new policy practically rolls out the red carpet for crypto businesses. MicroStrategy has already positioned itself as a major player, with 471,107 Bitcoin holdings currently valued at approximately $45.8 billion.
Trump’s not doing this halfway. He’s assembled what he calls a dream team of crypto-friendly faces, including venture capitalist David Sacks as his “Crypto and AI Czar” and Paul Atkins heading to the SEC. The Presidential Working Group on Digital Assets Markets, chaired by Sacks, has 180 days to cook up a thorough framework that actually makes sense – a first in crypto regulation history. The initiative aims to boost yield farming protocols that could offer investors substantial returns through cryptocurrency lending and staking.
Trump’s crypto dream team, led by Sacks and Atkins, signals a dramatic shift toward embracing digital assets in American finance.
The order throws down some serious gauntlets: ensuring open access to public blockchains, promoting dollar-backed stablecoins, and – in a move that sent traditional bankers into a tizzy – guaranteeing fair banking access for crypto businesses. The initiative directly challenges China’s digital yuan development in the global cryptocurrency arena.
But here’s the kicker: it explicitly bans CBDCs in the U.S., effectively telling the Fed to stay in its lane.
A 60-day regulatory review will clean house, sweeping away what Trump calls “obstacles to innovation.” The whole thing reads like a love letter to the crypto industry, complete with promises to make America the world’s crypto capital.
Trump’s not subtle about it either, claiming his pro-crypto stance is behind Bitcoin’s recent surge and dismissing previous crypto indictments as political theater.
Whether you love him or hate him, one thing’s clear: the crypto landscape in America just got a major makeover.
