Trump’s Cryptocurrency Agenda: Achievements and Ethical Controversies

Since 2025, President Trump has enacted a pro-cryptocurrency agenda with ten key commitments, including the establishment of a Strategic Bitcoin Reserve and the repeal of certain regulatory restrictions. These actions have initiated significant debates around ethics and regulatory oversight while simultaneously encouraging industry innovation. Notable controversies have arisen involving potential conflicts of interest and criticisms of reduced regulatory frameworks, indicating a complex relationship between innovation and governance in the crypto domain.

Since assuming office in January 2025, President Donald Trump has initiated a pro-cryptocurrency agenda aimed at transforming America’s digital asset landscape. While supporters praise these efforts, critics raise concerns around conflicts of interest and economic risks. This article reviews Trump’s ten key crypto and blockchain promises, their fulfillment status, and the controversies that emerged.

1. Strategic Bitcoin Reserve For Crypto – Fulfilled
Trump established the Strategic Bitcoin Reserve through an executive order, using approximately 200,000 bitcoins seized from prior federal operations. This reserve, akin to a “digital Fort Knox,” intends to enhance national financial security, reinforcing America’s leadership in digital finance.

2. Fire SEC Chair Gary Gensler – Fulfilled
In response to pressure from the crypto industry, Trump removed SEC Chair Gary Gensler and appointed Paul S. Atkins, a pro-crypto former commissioner. This change signified a shift towards more crypto-friendly regulations, boosting optimism among stakeholders in the digital asset market.

3. Establishing the U.S. as a “Crypto Capital” – In Progress
Trump’s objective to make America the global hub for crypto innovation is currently in progress. The first White House Crypto Summit in March 2025 showcased the administration’s commitment, though comprehensive realisation of this vision is ongoing amidst fluctuations in regulatory rollback effects on growth.

4. Ban Central Bank Digital Currency (CBDC) – Fulfilled
Emphasising privacy and individual freedom, Trump banned the Federal Reserve from developing a CBDC. This decision has been polarising, distinguishing the U.S. from other economies exploring their own digital currencies and raising questions about future competitiveness.

5. Appoint a “Crypto Czar” – Fulfilled
David Sacks was appointed as the Crypto and AI Czar, overseeing the President’s Working Group on Digital Asset Markets. His role involves streamlining regulations and coordinating federal strategies concerning cryptocurrency, reinforcing the administration’s commitment to oversight.

6. End Regulatory Uncertainty around Crypto – Fulfilled
To address uncertainties in crypto regulations, Trump dissolved the National Cryptocurrency Enforcement Team and mandated federal agencies to establish a unified regulatory framework. Although welcomed by many in the crypto community, this deregulation faced criticism from consumer protection advocates.

7. Support Bitcoin Mining in the U.S. for Crypto – Fulfilled
The Trump administration promoted domestic Bitcoin mining operations, highlighting energy independence. By easing regulatory burdens, significant investments were attracted, particularly in states rich in renewable energy resources, thereby revitalising mining activities nationally.

8. Pardon for Ross Ulbricht and BitMEX Executives – Fulfilled
Trump’s pardon of Ross Ulbricht, founder of Silk Road, and several BitMEX executives sparked controversy. Supporters viewed the pardons as rectifying excessive penalties, whereas opponents argued they undermined law and justice enforcement principles.

9. Nullify IRS DeFi Broker Rule – Fulfilled
Trump repealed an IRS rule that widened broker definitions to include DeFi platforms. This significantly eased tax reporting for these entities but raised alarms regarding potential tax evasion and less transparent financial operations.

10. Launch Trump-Backed Crypto Venture – Fulfilled
The launch of World Liberty Financial, a Trump family-backed stablecoin (USD1), further intertwines private interests with national policy. This venture raises ethical concerns regarding the blending of personal and presidential business interests in the cryptocurrency realm.