With a flurry of pro-crypto policies expected under the new administration, the US President-elect has wasted no time making good on his promise to completely overhaul the industry’s regulation in the country. Now, he may be looking to take things a step further. Indeed, Donald Trump is reportedly open to creating an America-first strategic reserve for cryptocurrencies like Solana (SOL) and XRP, according to a report from the New York Post.
The incoming inauguration of President Trump is set to end what was four years of challenges for the cryptocurrency market. Under the Biden Administration, the US Securities and Exchange Commission (SEC) had regulated through enforcement. Now, the market is anxiously awaiting the monumental shift Trump should bring about.
JUST IN: 🇺🇸 President-elect Donald Trump is open to creating an America-first strategic reserve that prioritizes cryptocurrencies such as Solana $SOL and $XRP.
— Watcher.Guru (@WatcherGuru) January 16, 2025
Also Read: Donald Trump’s SEC to Revamp Crypto Policy & May Pause Enforcement
Trump Considers Creating America-First Reserve for Cryptocurrencies Founded in The US
In just four days, the incoming US President-elect will be inaugurated. Indeed, Donald Trump will be set to serve his second nonconsecutive term as the United States commander in chief. This time, he brings with him a perspective that could mean widespread liberation for an often regulatoryly oppressed digital asset sector.
There has already been a flurry of discussions regarding what Trump could pass during the early days of his presidency. Now, there are reports he is considering one idea that would certainly send shockwaves throughout the industry. Specifically, Donald Trump is open to creating a strategic reserve for US-based cryptocurrencies like Solana (SOL) and XRP.
Also Read: Donald Trump to Issue Executive Crypto Policy Orders on First Day in Office
The New York Post reports that the idea is “causing controversy” but has the President-elect’s attention. The report describes the idea as “an America-first strategic reserve that would prioritize digital coins founded in the US, like Solana, USD Coin, and Ripple.”
“In recent weeks, Trump has met with founders of these sounds and, sources said, is receptive to the idea.” However, sources note that all involved still want to prioritize Bitcoin. Therefore, the concept is facing concerns regarding the potential delegitimization of BTC. There have long been talks of Trump establishing a Bitcoin reserve and potentially passing US Senator Cynthai Lummis’ Bitcoin Act, introduced last year.
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