4 min read
February 14, 2025, 11:50 GMT+0000
Summary:
1. Turning the US into the crypto capital: In progress, with statements but no concrete policies yet.
2. Fire Gary Gensler: Delivered, replaced by cryptocurrency advocate.
3. Create a Bitcoin strategic reserve: Under evaluation, with a recent executive order.
4. Prevent selling #BTC reservations: Not applicable until the reservation is established.
5. Blocking the creation of a CBDC in the US: Fulfilled with an executive order.
6. Implement a comprehensive crypto policy: In progress, with the development of regulations.
7. End hostility against crypto: Fulfilled with appointments and executive orders.
8. End government repression of crypto: Under review of cases.
9. Encourage the use of crypto for debt: Still pending concrete actions.
10. Reduce the sentence of Ross Ulbricht: Fulfilled with a presidential pardon.
1. Make the United States the world capital of cryptocurrencies
Status: In progress
Actions taken: Trump has expressed his intent to position the U.S. as a leader in the crypto sector. At a Bitcoin conference in July 2024, he stated his commitment to making the United States 'the world capital of cryptocurrencies.' However, concrete policies are still awaited to materialize this promise.
2. Dismiss the SEC chairman, Gary Gensler
Status: Fulfilled
Actions taken: Trump removed Gary Gensler from his position as chairman of the Securities and Exchange Commission (SEC) and appointed Paul Atkins, a known advocate for cryptocurrencies, as his successor.
3. Establish a strategic reserve of Bitcoin
Status: Under evaluation
Actions taken: On January 25, 2025, Trump signed an executive order that includes the assessment for the creation of a national reserve of digital assets, including Bitcoin. Although it has not yet been formally established, the assessment is underway.
4. Prevent the United States from selling its Bitcoin reserves
Status: Not applicable
Actions taken: Since the strategic reserve of Bitcoin has not yet been established, this promise is not applicable at this time. However, the United States already possesses a significant amount of digital assets under government control. According to recent data, the U.S. government's crypto asset portfolio amounts to approximately $19.59 billion, with the following main holdings:
BTC: 198.109K BTC (~$19.17B)
ETH: 54.753K ETH (~$149.13M)
USDT: 121.994M USDT (~$121.99M)
5. Stop the development of a CBDC by the U.S. government.
Status: Fulfilled
Actions taken: Trump signed an executive order prohibiting the development of a Central Bank Digital Currency (CBDC) in the United States, reaffirming his support for decentralized cryptocurrencies.
6. Propose a comprehensive cryptocurrency policy
Status: In progress
Actions taken: The Trump administration has begun to develop a clearer regulatory framework for cryptocurrencies, aiming to provide precise guidelines for the industry. More specific details are expected to be released in the coming months.
7. Cease hostilities against cryptocurrencies in the first hour of taking office
Status: Fulfilled
Actions taken: Since taking office, Trump has adopted a proactive stance towards cryptocurrencies, including the appointment of officials favorable to the sector and signing executive orders that promote their use and favorable regulation.
8. End the illegal government repression against the crypto industry
Status: In progress
Actions taken: The current administration is reviewing past cases of government actions against crypto companies and has begun implementing policies to ensure a fairer and more transparent treatment of the industry. However, specific cases are still being evaluated.
9. Recommend the use of cryptocurrencies to address debt problems
Status: Pending
Actions taken: To date, no specific policies have been implemented that use cryptocurrencies to address national debt issues. This promise is still pending action.
10. Reduce the sentence of Silk Road founder Ross Ulbricht
Status: Fulfilled
Actions taken: Trump granted a pardon to Ross Ulbricht, founder of Silk Road, fulfilling one of his most symbolic promises to the crypto community.
The Trump administration has made significant progress on its crypto agenda, fulfilling 4 out of the 10 promises made so far. Additionally, 3 promises are in progress, 1 is under evaluation, 1 remains pending, and 1 is currently not applicable.
While the support of the Senate and the involvement of key leaders have generated a structural change in U.S. crypto policy, challenges and promises remain that need to be realized with concrete actions. The crypto community is closely watching the administration's next steps, hoping that the country consolidates as a true global epicenter for innovation in digital assets. What happens in the coming months will be crucial in determining whether the United States becomes the crypto benchmark that Trump has promised.