Trump's Crypto Plans: Revolution or Mere Bold Promises?

The world of crypto could witness a historic change with Donald Trump’s return to the White House. Indeed, the elected president, already known for his divisive stances, has placed crypto at the heart of his economic priorities. He aims to propel the United States to the rank of global leader in this rapidly expanding sector. Among his promises are the creation of a strategic reserve of bitcoins and the implementation of policies favorable to crypto businesses. These initiatives, which reflect a willingness to break from the previous administration, trigger a mixture of hope and skepticism within the industry. While his supporters applaud a bold vision for the future of crypto, observers remind us of the numerous obstacles that will mark the realization of these projects, whether political, economic, or regulatory. Donald Trump’s next mandate could thus mark a decisive step in the evolution of cryptocurrencies in the United States and on the international stage.

Trump’s First Commitments for a Crypto Revolution

From the outset of his campaign, Donald Trump stated his intention to become the “crypto president,” a positioning that quickly sparked enthusiasm among parts of the blockchain community. Among his most ambitious promises is the transformation of bitcoin into a national strategic asset. Last July, he announced a plan aimed at allocating $21 billion over a year to create a national reserve of bitcoins. This initiative, supported by preliminary documents issued by the Bitcoin Policy Institute, was described by Zack Shapiro, the institute’s director, as a unique opportunity to strengthen the United States’ position against their geopolitical competitors in adopting blockchain technologies.

Furthermore, Trump emphasized the need to reintegrate crypto businesses into the traditional banking system, often criticized for its practices deemed restrictive towards this sector. During a significant speech in July, he stated emphatically: “banks will no longer be allowed to strangle crypto companies out of the financial system.” This statement was accompanied by the strategic appointment of pro-industry figures, such as David Sacks, designated as the White House crypto czar, and Paul Atkins, a former regulator now heading a transition committee. Thus, these choices reflect a clear intention to redefine the interactions between financial institutions and the crypto industry.

Between Independent Regulations and Political Reality

The realization of Donald Trump’s ambitions in the field of crypto faces significant institutional obstacles. In the United States, federal financial regulators, especially bank supervisors, have a level of autonomy that limits the direct impact of presidential decrees. Jonah Krane, an expert from the Klaros group, highlights this reality and states: “regulators will not change their policy immediately, but these gestures indicate a desired political direction.” These remarks further inform us that presidential initiatives may only be perceived as signals of intent, without immediate effect on existing policies.

Another point of friction lies in the legal feasibility of creating a strategic bitcoin reserve. Legal experts are divided on whether such a project can be undertaken without Congressional approval. This uncertainty fuels the doubts of many observers, although some view this initiative as a positive signal for innovation in the crypto sector. Additionally, the logistical and financial challenges that accompany a project of this scale should not be underestimated. Moreover, the need to allocate $21 billion to purchase bitcoin, combined with the increased volatility of the crypto market, represents a major source of instability and complexity for decision-makers.

The initiatives announced by Donald Trump could redefine the role of the United States in the crypto ecosystem, but they are not without challenges. If his return to power marks a break from the previous administration, uncertainty remains regarding the realization of his promises in light of institutional constraints and economic realities. These initial expected decrees will set the tone for a national strategy that could place the United States at the forefront of crypto innovation or, conversely, reveal the limits of an ambitious yet controversial approach. The success or failure of this bet will have profound implications for the industry and for the geopolitical positioning of the country.