Crypto Council Sets Four Key Objectives

Trump Administration Plans Crypto Advisory Council with Key Priorities

• The Trump administration plans to form a Crypto Advisory Council with 24 members from the crypto sector.
• Pro-XRP attorney John Deaton highlighted four priorities: SAB 121, Bitcoin reserve, crypto tax payments, and policies.
• SAB 121’s abolition is deemed crucial for integrating crypto into the global financial infrastructure.
• Deaton suggests locking up the US government’s 200K BTC in escrow for 20 years as a strategic reserve.
• Reevaluation of IRS’s classification of cryptocurrencies to avoid capital gains tax on crypto tax payments is recommended.

The Trump administration’s proposed Crypto Advisory Council aims to address key issues like SAB 121 and establish strategic policies around Bitcoin reserves and crypto taxation as outlined by John Deaton.