Dec 23 - The cryptocurrency industry is pushing President-elect Donald Trump's team to kick start his promised crypto policy overhaul when he takes office next month with executive orders that would help push tokens mainstream, according to industry officials.
They are pushing for those executive orders within Trump's first 100 days in office, and expect at least one could come on Jan. 20, said two other people with knowledge of the matter. Bitcoin, the world's largest cryptocurrency, hit new records above $107,000 this month after Trump reiterated his plan, first unveiled in a speech in July, for a strategic bitcoin reserve. Bitcoin has since fallen back below $100,000.
That draft would designate bitcoin as a strategic reserve asset and require the Treasury Secretary to spend $21 billion over a year to amass a national bitcoin stockpile, according to the draft seen by Reuters. While an executive order directing bank regulators to go easy on crypto would send a signal to agency officials and provide them with political cover, it's unlikely to have legal force since federal bank regulators are independent, some executives warned.
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