The reelection of Donald Trump as president of the United States has undoubtedly sent ripples through global markets, but nowhere has the impact been more pronounced than in the cryptocurrency industry.

The reelection of Donald Trump as president of the United States has undoubtedly sent ripples through global markets, but nowhere has the impact been more pronounced than in the cryptocurrency industry.

After making significant contributions to the crypto narrative during his first term, which ended in 2021, Trump’s return to the White House in 2025 included initiatives related to the crypto industry, such as executive actions, regulatory shakeups, and policy moves.

As the dust settles on the first 100 days of Trump’s second term, let’s take a look at some of his key crypto-related activities.

Executive Orders

Crypto Council

In November 2024, U.S. President Donald Trump proposed the creation of a Crypto Advisory Council as part of his plan for a pro-crypto administration.

First announced during his campaign at the Bitcoin 2024 conference, the council is intended to advise on digital asset policy, coordinate federal crypto regulation, help establish a national bitcoin reserve, collaborate with Congress on crypto-related legislation, and streamline cooperation among agencies such as the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and the Bureau of the Treasury.

In December 2023, Trump announced Bo Hines as executive director of the Presidential Council of Advisers for Digital Assets (Crypto Council).

David Sacks as AI and Crypto Czar

In December 2024, Trump appointed former PayPal COO David Sacks as the White House “AI and Crypto Czar.” Despite retaining financial interests in crypto-related firms through his venture fund Craft Ventures, the Trump administration issued him a blanket ethics waiver allowing him to oversee regulations impacting the very industries he’s invested in.

His role includes guiding the regulatory framework for digital assets, managing AI policy across sectors, and leading initiatives like the federal “Crypto Strategic Reserve.” The waiver permits this oversight as long as his fund’s crypto holdings remain below 5%, with further consultation required if they exceed that threshold.

Strategic Bitcoin Reserve and Digital Asset Stockpile

In March, Trump signed an executive order establishing a Strategic Bitcoin Reserve, funded with bitcoin seized through criminal and civil forfeitures. The reserve positions bitcoin as a long-term store of value, with the U.S. government reportedly holding around 200,000 BTC, pending an official audit.

The order also creates a U.S. Digital Asset Stockpile made up of seized cryptocurrencies. Its goal is to boost the digital asset industry, support financial stability, guard against inflation, and help the U.S. lead in global crypto innovation.

CBDC Ban

In March, Trump signed an executive order banning the creation and promotion of central bank digital currencies (CBDCs) by federal agencies, citing risks to privacy, financial stability, and national sovereignty. The order mandates the immediate termination of all CBDC-related initiatives unless required by law.

In place of CBDCs, the order endorses a private-sector-driven digital asset ecosystem, with a strong emphasis on dollar-backed stablecoins as a secure and less intrusive alternative.

Department of Government Efficiency (DOGE)

Although called a department, the Department of Government Efficiency (DOGE) is not an official government agency as it was created by a presidential executive order and focuses on improving efficiency through IT upgrades.

On Jan. 20, 2025, Trump signed an executive order establishing the department to carry out the “DOGE Agenda,” aimed at improving how the U.S. government uses technology.

While the department was not established for cryptocurrency purposes, its use of crypto-related terminology—such as the acronym “DOGE”—has drawn attention. Moreover, Trump appointed Tesla CEO and DOGE token enthusiast Elon Musk to the department.

Legislative & Regulatory Moves

Overturned an IRS crypto rule

Earlier this April, Trump signed a bill nullifying a controversial Internal Revenue Service (IRS) rule that expanded the definition of a “crypto broker” to include decentralized finance (DeFi) platforms.

Originally implemented in the final days of the Biden administration, the rule would have forced DeFi platforms to report user transactions, which the industry argued was technically impossible.

White House Digital Asset Summit

The First White House Crypto Summit was held on March 8, 2025, bringing together top digital asset executives to discuss the Trump administration’s stance on cryptocurrencies. It focused on creating a Strategic Bitcoin Reserve and a digital asset stockpile using cryptocurrencies seized by law enforcement.

At the event, Trump emphasized his goal to make the U.S. the “crypto capital of the world” and reduce the regulatory burdens on the industry.

SEC Reforms

Ended Choke Point 2.0

On April 25, the Federal Reserve announced that it would revoke the 2022 regulatory guidance on banks’ crypto assets and U.S. dollar token businesses, eliminate the “regulatory no objection” procedures introduced in 2023, and