Anthony Pompliano Gives Trump 3 Key Actions to Boost Bitcoin Adoption

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ODAILY
01-15
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Odaily Odaily News reports that well-known Bitcoin advocate and investor has proposed three strategic measures for President-elect to accelerate the popularization of Bitcoin in the United States. The first recommendation is to abolish the anti-cryptocurrency banking policy . This regulation currently restricts banks from holding digital assets, requiring them to classify these assets as liabilities. Pompliano believes that eliminating this obstacle will allow banks to hold Bitcoin on behalf of their clients, which will promote institutional demand for cryptocurrencies. He points out that allowing financial institutions to include Bitcoin on their balance sheets can create a stronger ecosystem for digital assets. This change can also provide US banks with a competitive advantage in the rapidly growing global cryptocurrency market. Another action proposed by Pompliano is to establish a national Bitcoin reserve. He emphasizes that the US government already owns about 200,000 Bitcoins, which can serve as the foundation for establishing such a reserve. He suggests that increasing the government's Bitcoin holdings rather than liquidating them would be wise. He stresses that Bitcoin's utility as a store of value and a hedge against inflation is increasingly growing, and it may be beneficial to the economy in the long run. Pompliano also urges to implement tax reform and change the current legal treatment of Bitcoin. Currently, Bitcoin is classified as property, which means that transactions involving cryptocurrencies are subject to capital gains tax. This classification creates complexity for consumers and businesses seeking to use Bitcoin for everyday transactions. Pompliano, therefore, suggests adjusting the tax laws to eliminate these obstacles. Finally, he emphasizes that these measures will position the United States at the forefront of the digital currency revolution.

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