What Does Trump’s Executive Order on Crypto Mean for Solana?

Crypto enthusiasts across the world breathed a sigh of relief following the unveiling of U.S. President Donald Trump's eagerly awaited executive order on crypto.

While the White House’s executive order is far from legally binding, it communicates to the world the U.S. Government’s position on crypto for the next four years.

What pro-crypto moves can we expect from the White House and how might they affect $SOL?

The White House’s Executive Order on Crypto

On January 23rd, the Trump Administration issued an executive order on Crypto. Designed to support the growth and responsible use of digital assets, the order represents a critical step towards better legislation for cryptocurrencies in the United States.

Trump’s executive order focuses on the formation of a cryptocurrency working group, headed by the Treasury Secretary, SEC Chair, and the U.S. Government’s new Crypto Czar and Solana investor David Sacks. 

This elite crypto council is charged with the responsibility of proposing a progressive regulatory framework and exploring the potential of an official Governmental Cryptocurrency Stockpile.

The executive order can best be summarized under the following key points:

• A cryptocurrency working group will be tasked with the development of a Federal regulatory framework governing digital assets and assessing the creation of a strategic national cryptocurrency stockpile.

• The working group will be led by Trump’s Crypto Czar David Sacks, alongside the Treasury Secretary, the Chairman of the SEC, and leaders from other relevant state departments.

• Agencies are prohibited from any action towards the establishment, issuance, and promotion of CBDCs (Central Bank Digital Currencies).

• Within 30 days, Government Departments and Agencies must identify any existing regulations or agency actions that could affect the digital asset sector. Within 60 days, they must advise the working group on how these regulations can be modified.

• The Biden Administration’s Digital Assets executive order and the Treasury Department’s Framework International Engagement on Digital Assets are revoked.

While executive orders are hardly legally binding documents, Trump’s declaration asserts that the new government is honoring the promises made to the digital asset industry during the President’s election campaign.

Unsurprisingly, the executive order was met with palpable enthusiasm from the crypto community. Enthusiasts from across the industry have championed the order, expressing optimism towards what appears to be a pro-crypto administration.

Electric Capital co-founder Avichal Garg claims the executive order is a huge step forward for crypto regulation, giving U.S. citizens greater freedom over their digital wealth and protecting the industry from authoritarian control.

Will the Digital Asset Stockpile Feature $SOL?

When President Trump first hinted at the creation of a Bitcoin Strategic Reserve, the majority of traditional media passed it off as the ramblings of a madman.

However, within four days of taking office, President Trump is making moves toward establishing a national cryptocurrency stockpile. 

According to Arkham analytics, the U.S. Government currently holds ~$21M in seized assets, with $BTC constituting the bulk of its holdings.

While it is still unclear which digital assets might qualify for the U.S. National Cryptocurrency Stockpile, it is possible that large-cap crypto assets launched in the U.S. could be included. In a bid to promote adoption and investment in ‘Made in America’ coins, U.S. President Trump has previously suggested abolishing capital gains tax on U.S.-launched coins, including $SOL.

Additionally, Trump’s Crypto Czar, David Sacks, was an early investor in Solana. While Sack’s existing association with $SOL shouldn’t play a role in whether $SOL is adopted into the Government’s proposed crypto stockpile, Solana has already proven itself a key part of Trump’s crypto plan. Earlier this week, Trump’s crypto team chose to launch the $TRUMP on the Solana network, likely motivated by its industry-leading user base and simple UX.

Trump’s executive order on crypto is by no means an immediate change in the regulatory landscape of digital assets in the U.S. However, it signals a commitment to working alongside the crypto industry towards establishing greater legislative clarity and a unified path towards blockchain innovation in the years to come.

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