Top Republican officials at the U.S. Securities and Exchange Commission are moving quickly. Sources told Reuters that commissioners Hester Peirce and Mark Uyeda are planning to overhaul cryptocurrency policies as soon as President-elect Donald Trump assumes office.

First on the agenda is defining when a cryptocurrency is considered a security and reviewing ongoing crypto enforcement cases. Paul Atkins, Trump's nominee for SEC chair and known for his crypto-friendly stance, is expected to shift away from the crypto crackdown initiated by President Biden's SEC chair, Gary Gensler, although the Senate's confirmation timeline remains uncertain.

The Trump administration also plans to create a new crypto advisory council. The council will consist of about 24 industry leaders and will help guide U.S. digital asset policy and legislation during Trump's upcoming term. According to Bloomberg, the council will include CEOs and founders with previous ties to Trump and will work closely with key agencies like the SEC to promote a crypto-friendly regulatory environment.

Prominent crypto executives are clamoring to curry favor with the incoming President. Circle’s CEO, Jeremy Allaire, revealed the company's $1 million USDC donation to Trump’s inauguration. Meanwhile, MicroStrategy's Michael Saylor recently discussed potential roles and policies with Trump, and news of BitMix co-founder Arthur Hayes's invitation to Mar-A-Lago has emerged online.

The administration recently held a Crypto Ball headlined by Snoop Dog and hosted by Trump’s nominated “AI and Crypto Czar” David Sacks. This event, sponsored by giants like Coinbase, MicroStrategy, and Kraken, is not just a celebration but a rallying point for what could be the most transformative era for crypto in America.

Eric Trump's recent investment in SUI, a cryptocurrency that surged 600% in the past year, also shows the growing personal interest of the Trump family in the crypto sector. Earlier this year, the Trump family launched World Liberty Financial and its corresponding governance token, $WLFI. Although Trump is not listed as a direct founder but rather as "Chief Crypto Advocate," his son Barron and Eric are both in the leadership team.

With the President-elect steering the changes to the crypto industry, markets are eagerly following any and all investments made by World Liberty Financial.

A recent leak suggested President-elect Donald Trump is weighing up a wider crypto reserve built on U.S.-created cryptocurrencies, including Ripple's XRP, Circle's USDC, and Solana. This so-called "America First" strategic reserve would see Bitcoin take a backseat, a move that the Post sources say he is receptive to.

The leak was first reported by the New York Post but was subsequently quashed. Sources speaking to Unchained speculated the New York Post report actually reflected a “self-serving” rumor seeded by Ripple Labs representatives.

As President-elect Trump gears up to implement his groundbreaking promises, the world watches closely. Will these moves cement the U.S. as a leader in global cryptocurrency innovation, or will they introduce a new set of challenges for an industry known for its volatility? Only time will tell, but one thing is clear: in Donald Trump, the crypto industry has its biggest and most powerful advocate of all time and one that will benefit personally from every decision he makes.

Most recently, the Trump Meme Coin ($TRUMP) has captured attention as a post appeared on Trump's official X account.

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