Crypto Changes on the Horizon: Trump's Day One Plans

President-elect Donald Trump is set to make big moves in the crypto world on his first day in office. A source close to his transition team revealed that he might tackle two key issues: debanking and the repeal of a policy called SAB121. This policy forces banks to count digital assets as liabilities on their balance sheets. Melania Trump brought up debanking in her 2024 memoir, and the repeal of SAB121 has been championed by MicroStrategy CEO Michael Saylor. He believes this, along with other changes, could boost Bitcoin's market capitalization to a staggering $100 trillion.Trump's first crypto executive order is expected to create a presidential crypto council. This council would include about 20 industry leaders. The report also hinted that this is just the beginning of many crypto-related actions. Interestingly, Bitcoin's price jumped from $90, 700 to over $99, 000 in the days following these reports. Trump has appointed several crypto supporters to key roles in his administration, including David Sacks as the first-ever crypto czar. Some states are considering creating their own bitcoin strategic reserves. If the U. S. follows suit, it could spark a crypto "arms race. "