In an age of digital asset transformation in finance, the first nation to embrace cryptocurrency will hold a unique position of power. Many crypto protagonists believe that, when Trump is in charge, he could convert the United States into the world’s crypto capital.

By cutting through regulatory obstacles, establishing strong policies, and nurturing an ecosystem that grows a nation’s usage of digital assets, Trump can chart a course toward a future that enables the nation and the crypto industry. 

1. Eliminate Unnecessary Crypto Cases at the SEC

When he resumes the presidency, Trump should probably clear the backlog of cases on cryptocurrencies in the Securities and Exchange Commission (SEC).

A report claimed that the regulator had spent almost $430 million pursuing those cases.

 The SEC has generally become the center for crypto regulation, often with strident scrutiny and litigation. Trump had earlier promised to fire Gary Gensler, the current chief of the SEC.

While some litigation and cases are necessary for security and transparency, many believe that great numbers have only stifled innovation and created uncertainty. One such unnecessary case was XRP vs. SEC, where the latter lost to XRP issuer Ripple after 4 years of fighting the case.

Removing unnecessary legal pressures would allow crypto firms to operate without the constant fear of litigation. This would not amount to a free-for-all but a balanced approach between respect for security and growth. 

This would inspire all entrepreneurs and investors, and new ideas and investments in the US economy would make the ground fertile for innovation and technical progression.

2. Concrete Crypto Policy and Tax Law

The ambiguity in crypto taxation and uneven policies at present hold the crypto industry back. A transparent and reliable framework for crypto policy that provides clarity allows businesses to grow, instilling confidence in those who are still ‘on the sidelines’ about jumping into the industry.

The US Congress introduced one such policy, FIT 21 this year, but the SEC paid no heed to it even when the legislature created it. Such mismatches among different parts of the government could soon end because of Trump’s new Department of Government Efficiency.

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— Elon Musk (@elonmusk) November 13, 2024

3. Improve Crime Prevention with Crypto Investigators

Cryptocurrency’s anonymous nature attracts investors but also, sad to say, criminals. Instead of putting the whole industry on the devil’s list, it would have been better for him to employ excellent crypto investigators to uncover some of the bad apples so that integrity could be restored to the sector.

Crypto investigators would focus on identifying money laundering, fraud, and other financial crimes, which would give legitimate businesses a clear field for fear of having their reputations sullied by criminals. Experts like ZachXBT could really help in such cases.

It could make digital currencies safer for Americans to use and show that the United States is a world leader in safely integrating crypto into the economy.

4. Pro-Crypto Policies and Incentives.

One of the most effective methods a government can use is to attract specific types of industries, and if he brings forward pro-crypto policies, it will be revolutionary. Imagine the tax incentives, grants, or subsidies to crypto startups and blockchain innovators that will persuade local and international entrepreneurs to set up their companies within the United States borders. The United States then becomes the hub of digital finance and blockchain development.

These crypto-friendlier policies by Trump will boost the economy and America’s competitive advantage in the ever-growing digital economy. 

5. Add Bitcoin to US Dollar Reserve

In his speech at the Bitcoin Conference 2024 in Nashville, Trump promised to build a strategic Bitcoin reserve. This is the most extreme move Trump could make. 

It sounds incredible for now, but the idea is gaining traction as an alternative mechanism for a reserve not based on fiat. Bitcoin has a decentralized and hard supply that can offer a hedge against inflation—a solution that fiat-based currencies cannot offer because their value will always depreciate.

This will increase its scarcity, make it more expensive, and help common investors make high gains.

Another strong message it would send to the world is through Bitcoin reserves that the US doesn’t fear evolving with the times to adjust to a better financial landscape. This would be a declaration of faith in decentralized finance and blockchain technology, which makes it possible to cement America’s role as an innovator and example for other parts of the world.

A Positive Future

Under Trump, the United States would remold itself into a crypto capital. America can remove legal barriers, clearly state regulations, be able to support crime prevention, encourage innovation, and even make an official declaration of accepting Bitcoin as part of the nation’s reserves, reflecting a country ready to embrace the digital monetary revolution.

This could make America the world champion, capturing the attention of global investors and entrepreneurial companies and transforming the nation into the final destination for blockchain and crypto innovation. 

Trump’s bold and strategic moves would ensure the United States stays ahead of the competition regarding the state of the world, appearing not only as a powerhouse of finance but also as a beacon of digital innovation.