Will Trump Sign Executive Orders on Day One?

Will Trump Sign Executive Orders on Day One?


Good day everyone,

I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the potential of incoming president Donald Trump signing crypto de-banking executive orders on his first day in office.

 

 

Will Trump Sign Executive Orders on Day One?

When Donald Trump is officially inaugurated as the President of the United States next week it is expected he will prioritise executive orders addressing crypto de-banking and revising a controversial bank accounting policy from the off. Trump will take his place in the White House once again on the 20th of January, and his first day could seen the U.S. President-elect signing a number of executive actions that may significantly impact the cryptocurrency industry.

The Washington Post reported on the 13th of January that Trump is expected to make executive orders for addressing crypto de-banking a priority once he takes office, while he also intend to revise a controversial bank accounting policy. Among the anticipated orders are a policy which will repeal a policy introduced under the Biden administration. This policy requires bank holding cryptocurrency to list the digital assets as liabilities.

The policy comes from the Securities and Exchange Commission’s (SEC) March 2022 Staff Accounting Bulletin, SAB 121, which has faced resistance from the crypto industry. Trumps team are keen to resolve this matter and will consider it a matter of urgency. Many of the crypto industry were vocal in their criticism of the Biden administration for what it perceived as a targeted crackdown, often referred to as “Operation ChokePoint 2.0.” Many felt they targeted the industry and look to block off the sector’s access to financial services.

With many industry leaders urging Trump to make decisive actions, especially when it comes to crypto-related executive orders, it is apparent that Trump's first 100 days in office will pave the way for the rest of his term as president. While some are predicting that one such order could be singed in relation to crypto on Trumps inauguration day, there are other much more optimistic views on how things may unfold. While many focus on the first 100 days, it may well be the first 100 hours where the most major moves are made.

It has been reported that Trump is preparing more than 100 executive orders for his first day in the Oval Office. A little over a year ago, Donald Trump claimed he would be a dictator, but only for the first 24 hours of his presidency. It looks like there will be a shock-and-awe campaign on border security, deportations, energy, and other policy priorities. This comes following a private meeting with Republicans on Capitol Hill, where Trump informed them of his plans for day one.

Executive actions are common on the first day of a new White House, as a new president puts a stamp on certain priorities, it is expected that Trump and his team are planning an unprecedented amount as he prepare to demonstrate his power. Monday the 20th of January is likely to see a media dump as both the media and political opponents are likely to be overwhelmed by the sheer volume of Trumps agenda. Back in an interview in November with TIME magazine, Trump stated:

 

“Look, I can undo almost everything Biden did through executive order. And on Day One, much of that will be undone.”

 

It should not be a surprise but it should also be noted that while some of Trump’s first-day promises can be achieved through executive action, others may require months, or years, of negotiation with Congress. Among the dozen of promises made by Trump for his first day include:

 

End to birth right citizenship

Mandate Voter ID's

Impose Billions in New Tariffs

Expand Drilling and Fracking

Remove the United States from the Paris Climate Agreement

Close the United States Southern Border

Travel Bans

2020 Executive Order known as 'Schedule F'

Mass Deportation

Release January 6 Prisoners

End the war in Ukraine

Reverse Climate-related Policies 

Banning Transgender Women from Competing in Women’s Sports

Cut Federal Funding for Schools that teach CRT or enforce vaccine mandates

 

 

This and more is expected on Trump's first day in charge, and many will be watching on eagerly to see what happens. It is important to note that much of what happens may get lost in the media news cycle, and potentially more of the controversial moves shall remain 'hidden.' It is difficult to know for certain which of the many measures Trump has promised that he will actually take in those first 100 hours. One thing is for certain though when it comes to Donald Trump, and we can be confident that one of them will involve a photo-op.

 

 

Have a great day.

Peace. CryptoGod-1.

 

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cryptogod-1
cryptogod-1

Writer, designer, creator, and life enthusiast. I love to read and write and enjoy sharing my passion for crypto, sports, literature and everything and anything I can enjoy in life.


CryptoGod-1 : Crypto & Blockchain
CryptoGod-1 : Crypto & Blockchain

Enthusiast here looking to share my ideas, thoughts, analysis, and experience when it comes to all things crypto

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