US President Donald Trump plans to use his executive powers to reduce the regulatory burden faced by cryptocurrency companies and promote digital asset adoption in his first few days in office, say people briefed on the plan. Trump is expected to sign an executive order creating a crypto advisory council, an idea he first mentioned in July last year. The council, which would help advise the government on crypto-friendly policy, could have as many as 20 members, say sources. It is also expected that Trump will order the end of what has been called “Operation Choke Point 2.0” – the term used by executives in the crypto sector to describe what they claim has been a concerted effort by bank regulators to prevent crypto companies entering the traditional financial system by instructing lenders to deny them services. Also being considered is the creation of a national Bitcoin stockpile, which would encompass the government’s existing $20bn holdings of the world’s biggest cryptocurrency.
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