Several cryptocurrency companies, including Ripple, Kraken and Circle, are competing to win a position on the Digital Asset Advisory Council that the government of Donald Trump will have, who will take office as president of the United States on January 20, 2025. The group of advisors will have among their tasks the responsibility of making a Bitcoin Strategic Reserve become a reality for the United States.
In that sense, a new report from Reuters highlights that Trump’s new advisory council will not only offer guidance on cryptocurrency policies, but will also support the creating a reservation of Bitcoin. All this suggests that, indeed, the new ruler makes preparations to fulfill the promises what he did to the thousands of cryptocurrency users living in that nation, including a change in current policies that, according to him, are expelling cryptoasset companies from his country.
In the previous months, some of these companies faced lawsuits from the United States Securities and Exchange Commission (SEC), under the presidency of Gary Gensler, who yesterday announced his resignation from office, which will take effect the same day. in which Trump takes office as the 47th president in the history of his country.
These events demonstrate the radical change that the Trump government promises in the regulation of the cryptocurrency industry in the United States, moving from an aggressive policy to a regulation with a more favorable framework for the sector.
Currently, the Trump transition team is evaluating which companies in the sector will be invited to participate in the Advisory Committee. They are also discussing how to structure and staff it, according to the aforementioned source. The companies are seeking to have a say in their planned review of US policy, now taking a seat on an Advisory Council that will likely be located within the White House.
The Republican, He would also be looking for a figure to advise him on cryptocurrencies and in that exploration, he has reportedly met with executives such as Coinbase CEO Brian Armstrong and former Coinbase executive Brian Brooks. Now, with a reserve in Bitcoin, among the many benefits that the United States could obtain, is the strengthening of the US dollar.
As CriptoNoticias reported yesterday, Trump is following in the footsteps of Nayib Bukele, who created the Bitcoin Office in 2022, an entity that depends on the presidency. El Salvador has a bitcoin reserve that already accumulates more than 5,900 BTC, currently valued at over $500 million and with profits exceeding $120 million.
By incorporating bitcoin into its reserves, the country would send a clear message, according to Zack Shapiro, policy director of the Bitcoin Policy Institute: the United States is committed to fiscal responsibility and innovation. This would generate greater confidence in the dollar, stabilizing its exchange rate and reinforcing its position as a world reserve currency, as indicated by the specialist.
