#Trump Forms Cryptocurrency Advisory Council#

The current hot topic of Trump establishing a cryptocurrency advisory committee can be parsed as follows: Trump plans to issue an executive order shortly after taking office to ease regulatory burdens on cryptocurrency companies and promote the adoption of digital assets. This executive order is expected to include the creation of a cryptocurrency advisory council, an idea first floated by Trump last July. Bloomberg reports that Trump may announce the creation of this council in his executive order, giving the cryptocurrency industry a voice in his government. Investors expect any statements from the new administration to drive bitcoin prices higher, potentially creating new highs. However, Wall Street cautions that while Congress and the White House will be supportive of cryptocurrency by 2025, this will support innovation in the industry and asset class, but the market may take some time to feel the impact. Overall, Trump's move to create a cryptocurrency advisory council is seen as a sign of support for the cryptocurrency industry, which is expected to drive the industry's development, but market reactions may take some time to materialize.