SuperEx丨11 Days Until Trump Takes Office: Can He Fulfill His 10 Cryptocurrency Promises?

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As the U.S. presidential election draws nearer, the future of cryptocurrency regulation and adoption is increasingly in focus. With just 11 days left before Donald Trump’s potential return to the White House, crypto investors, businesses, and enthusiasts are closely watching the candidate’s stance on digital assets. Over the past few years, Trump has consistently expressed his views on the importance of cryptocurrency as an alternative to traditional financial systems. However, the big question remains: will he be able to deliver on his bold promises to revolutionize the crypto industry?

In this analysis, we will break down Trump’s 10 cryptocurrency promises, explore the potential implications for the market, and assess whether his administration can realistically implement these changes in just four years.

1. Creating a National Bitcoin Reserve

One of Trump’s most ambitious proposals is to establish a Bitcoin national reserve. The idea of a country backing its national reserve with Bitcoin, rather than traditional fiat currencies like the dollar or gold, is radical, yet captivating. This proposal could position Bitcoin as a store of value, much like gold, and introduce Bitcoin as a legitimate component of a nation’s monetary policy.

While this might seem improbable to many, it would have significant ramifications on global financial markets. According to CoinMarketCap, the global supply of Bitcoin is capped at 21 million, creating a scarcity effect that could make it a valuable asset. A national Bitcoin reserve would certainly boost institutional and governmental confidence in the asset, providing further legitimacy to the crypto market.

However, establishing such a reserve would be a herculean task. A full-scale implementation would require a massive infrastructure to support Bitcoin’s integration with the U.S. financial system, including adjustments to Federal Reserve policies, security measures, and regulatory structures. Furthermore, Bitcoin’s volatile nature would make it a risky asset to hold in significant quantities. The practicality of creating a national reserve hinges on the stability of Bitcoin, which remains a critical concern for any administration.

Verdict: Feasible, but not likely within the first term. It would require significant regulatory reforms and widespread adoption of Bitcoin as an asset class by financial institutions.

2. Cryptocurrency as Legal Tender

Another major promise is to push for cryptocurrencies to be accepted as legal tender in the United States. In the wake of El Salvador’s decision to recognize Bitcoin as legal tender in 2021, many crypto advocates have called for similar moves from other countries. Trump’s proposal could change the landscape of payments in the U.S., positioning cryptocurrencies as an everyday transaction tool, like the U.S. dollar.

The key to the success of this policy lies in the acceptance and adoption of crypto by businesses, as well as the integration of crypto payment systems into the broader financial ecosystem. Platforms such as BitPay and Coinbase Commerce are already working towards enabling merchants to accept crypto payments, and the growth of stablecoins could mitigate concerns about volatility. However, the Federal Reserve would need to work closely with crypto stakeholders to ensure the stability of the payment system.

Verdict: This proposal is unlikely to be fully implemented in the next four years. Although progress is being made towards broader acceptance of cryptocurrency, the infrastructure and legal frameworks for such a transition are still in their infancy.

3. Tax Incentives for Blockchain Startups

Trump’s proposal to offer tax incentives for blockchain startups aligns well with his broader agenda of fostering economic growth and innovation. Blockchain technology, the foundation for cryptocurrencies, has applications far beyond finance, including in supply chain management, healthcare, and digital identity. Encouraging blockchain startups through tax incentives could spur innovation in various industries, giving rise to new decentralized applications (dApps) and expanding the Web3 ecosystem.

In 2025, the blockchain industry is projected to grow significantly, with a PwC report estimating that the global blockchain market could reach $67.4 billion by 2026. Offering tax incentives could accelerate this growth, attracting talent and investment to the U.S. blockchain sector. However, this would require careful legislative work to identify the right kind of incentives and prevent potential tax loopholes.

Verdict: Feasible, and likely to happen. Blockchain startups could benefit from tax cuts and other incentives, provided that Trump works with Congress to draft the necessary legislation.

4. Regulatory Clarity and a Crypto-Friendly SEC

One of the major hurdles to the growth of the U.S. crypto market has been regulatory uncertainty. Trump has promised to create a more crypto-friendly SEC, seeking to replace what many crypto advocates see as overly aggressive enforcement actions with a more balanced approach. A key part of this would involve clarifying how cryptocurrencies and related assets are classified, with many hoping for a clearer distinction between securities and commodities.

For example, Ripple Labs’ ongoing lawsuit with the SEC over whether XRP should be classified as a security has highlighted the need for clear guidelines. Trump’s proposal would aim to streamline the regulatory process, making it easier for businesses to navigate the system without fear of regulatory retribution. His administration would likely push for clearer rules regarding Initial Coin Offerings (ICOs), stablecoins, and decentralized finance (DeFi) platforms.

Verdict: Likely. A crypto-friendly SEC could become a reality in Trump’s administration, as the U.S. seeks to remain competitive in the rapidly evolving digital asset space.

5. National Blockchain Infrastructure

Trump’s fifth promise involves building a national blockchain infrastructure. This could involve the government directly investing in blockchain technologies and creating public-private partnerships to develop secure, scalable infrastructure for the U.S. economy. Blockchain can be used in government services such as digital identification, voting systems, and land registry management.

While such a massive undertaking would be complex and resource-intensive, the move could position the U.S. as a leader in blockchain adoption and innovation. The government could also incentivize states to develop their own blockchain-based systems, promoting widespread adoption.

Verdict: Feasible. Given the growing interest in blockchain applications in both public and private sectors, a national blockchain infrastructure could be initiated within the first term.

6. Legalizing Crypto Retirement Accounts (IRAs)

Trump’s promise to allow cryptocurrency in retirement accounts like IRAs is gaining significant traction. Currently, investors can hold Bitcoin and other assets in tax-advantaged accounts via custodial services such as Bitcoin IRA and iTrustCapital, but this space remains relatively underdeveloped. If Trump’s administration delivers on this promise, it would give millions of Americans easier access to tax-advantaged crypto investing, similar to traditional retirement funds.

Verdict: Feasible. Expanding the use of cryptocurrencies in retirement accounts would be a logical step for the government, considering the increasing integration of digital assets into mainstream finance.

7. Anti-Money Laundering (AML) and Know Your Customer (KYC) Reforms

Trump has expressed support for AML and KYC reforms, aiming to modernize these regulations to better address the needs of the crypto industry. The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has already implemented some KYC rules for cryptocurrency exchanges. However, Trump’s promise to streamline these rules and make them more practical for crypto businesses could enhance compliance without stifling innovation.

Verdict: Likely. Efforts to improve AML and KYC frameworks will continue to evolve, with Trump’s administration likely supporting reforms that balance security and innovation.

8. Enhanced Crypto Security Standards

With cryptocurrency thefts and cyberattacks on the rise, Trump has promised to enhance crypto security standards. This would include working with cybersecurity experts to protect digital assets from hacking attempts and ensuring that exchanges adhere to strict security protocols. Given the increasing sophistication of cyber threats, security measures will be a top priority for the next administration.

Verdict: Feasible and necessary. Stronger security measures are essential to ensure the growth and stability of the crypto ecosystem.

9. National Crypto Education Campaign

Trump has also pledged to launch a national crypto education campaign, helping to educate the American public about the benefits and risks of cryptocurrencies. As the general population remains largely unaware or skeptical about digital assets, educational initiatives could foster greater understanding and adoption.

Verdict: Feasible. A national crypto education campaign could gain traction, provided that resources are allocated toward creating accessible educational content.

10. Global Crypto Diplomacy

Trump’s final promise is to engage in global crypto diplomacy, working with other nations to create standardized international regulations for cryptocurrencies. The growth of cross-border crypto transactions demands global cooperation, and Trump’s international approach could drive alignment on issues such as taxation, anti-money laundering, and consumer protection.

Verdict: Possible, though challenging. Given the geopolitical tensions and differing approaches to crypto regulation globally, establishing international standards will require significant diplomatic effort.

Conclusion: Trump’s Crypto Promises — Reality or Fantasy?

Donald Trump’s 10 cryptocurrency promises represent a bold vision for the future of digital assets in the United States. While many of these ideas are ambitious, several are feasible within the next four years, especially if the administration collaborates with industry stakeholders and Congress. However, some promises — like the creation of a national Bitcoin reserve or the recognition of cryptocurrency as legal tender — are long-term goals that may take years or even decades to achieve.

In 2025, the trajectory of U.S. crypto policy will largely depend on Trump’s ability to work with lawmakers and regulators to implement these changes. If he succeeds, the U.S. could position itself as a leader in the global cryptocurrency market, attracting investment and fostering innovation in the blockchain space. However, the road ahead will be filled with challenges, and only time will tell if Trump can truly deliver on his crypto agenda.