Since January 2025, Washington has put aside its strict crypto enforcement for a new set of laws: A stablecoin law, a Bitcoin reserve order and changes to retirement plan rules. Here is what all that has meant for Bitcoin’s price, Trump’s personal income and the companies building on these new policies.
Bitcoin has not been boring to keep track of, since Donald Trump got back in the White House in January 2025. Prices broke records, then dropped back down. But the policy shifts are consistent: Regulations relaxed, banks showing fresh interest and a growing menu of crypto products from big names in finance.
Binance, a global cryptocurrency exchange with more than 323 million users worldwide, shows the live Bitcoin to USD price at $83,376.06 as of September 24, 2026, down 2.88% in the past 24 hours. That is about a third lower than last autumn’s high. For anyone who bought near the top, that gap stings. Still, a lot has happened behind the scenes, and much of it will shape where the market goes next.
In this article, you can dig into what this administration has done on the policy front, how much Trump himself is making from crypto, who is profiting from the new rules and what all these price moves mean for the broader market and economy.
What crypto-friendly policies has Trump rolled out in his second term?
There have been three major moves: Trump ordered a Strategic Bitcoin Reserve, pushed a federal stablecoin law and targeted changes to 401(k) retirement plan rules so people can invest in crypto. All three landed within the first seven months, and each is at a different stage today.
The Strategic Bitcoin Reserve
The reserve came first. On March 6, 2025, Trump signed an order telling the Treasury to run custodial accounts, the Strategic Bitcoin Reserve, funded by Bitcoin the government forfeited in legal cases. According to the Federal Register, coins put in the reserve are not meant to be sold. White House crypto czar David Sacks said at the time that the government owns about 200,000 Bitcoin, though no one’s done a full audit, according to David Sacks on X. That missing audit matters, because it means nobody can say for sure how big the reserve really is.
The GENIUS Act
Next, the GENIUS Act, signed July 18, 2025. Forbes says it carved out the first federal framework for payment stablecoins, with strict rules: 1:1 reserves, regular audits and mandatory licensing for every issuer.
Changes to 401(k) retirement plan rules
The third effort focuses on retirement savers. On August 7, 2025, Trump signed an order telling the Labor Department to rethink its guidance on alternative assets for 401(k) plans, Holland & Knight reports. The department had already scrapped its Biden-era warning about crypto in retirement plans back in May 2025. The formal rule was proposed in March 2026, but nothing has taken effect yet, according to The Money Overview.
Regulators have pivoted too. Burr & Forman notes the SEC dialed back enforcement actions against crypto firms after Gary Gensler left office. Here is a quick rundown:
| Policy | Date | What it does | Status as of September 24, 2026 |
| Strategic Bitcoin Reserve order | March 6, 2025 | Holds forfeited Bitcoin, can’t sell it | Executive order in force |
| GENIUS Act | July 18, 2025 | Sets federal rules for payment stablecoins | Rulemaking underway, full effect set for January 18, 2027 |
| 401(k) alternative assets order | August 7, 2025 | Directs review of retirement plan rules | Labor Department rule proposed, not final |
| CLARITY Act | Passed House July 2025 | Divides crypto oversight between SEC and CFTC | Stalled in Senate |
How much does Trump personally make from crypto?
Trump reported more than $1.4 billion from family crypto ventures in 2025, his largest income source that year. TIME reported the figure after the Office of Government Ethics released his annual financial disclosure on June 30.
CBS News says the money came from three areas: Royalties from the company behind $TRUMP, the memecoin Trump launched three days before taking office, token sales at World Liberty Financial, and equity sales in the firms running the venture and its stablecoin business. Fortune adds that World Liberty also got income from Bitcoin, Ether and stablecoin holdings in 2025.
World Liberty Financial started in September 2024. Trump’s named as “co-founder emeritus” with his sons and the sons of envoy Steve Witkoff. The company issues USD1, a dollar-pegged stablecoin. On the earnings, Trump told reporters, “You know why I’m profiting, because the stock market’s going up, everybody’s profiting”, as quoted by BBC.
The family’s crypto footprint keeps growing. In August 2026, Axios reported the Office of the Comptroller of the Currency gave World Liberty Trust Company preliminary approval for a national trust bank charter. CNN notes the firm still cannot take deposits or make loans, and final approval depends on meeting requirements. Ethics watchdogs and some lawmakers are already raising alarms. The size of that income is a big reason why the ethics debate keeps coming back in Washington, as the CLARITY Act vote showed.
How have new rules about crypto opened up business opportunities?
Stablecoin issuers, banks and trust companies moved fast. The GENIUS Act gave them a clear legal lane, and there is money pouring in: The stablecoin market cap hit $314.68 billion as of June 2026, according to Valueaddvc.
| Definition: A payment stablecoin is a token pegged to the US dollar and backed one-for-one with cash or short-term Treasury bills. |
Banks wasted no time either. Once the law passed, Bank of America CEO Brian Moynihan said that if it becomes legal, BoA will get into business with it. Now, a cluster of banks is building a joint stablecoin, as reported by Yahoo Finance, while JPMorgan’s holding out and doubling down on its own Kinexys network. That same report says the Treasury’s August 2026 proposed rule frames stablecoins as payment infrastructure, not investment products.
Public companies are buying Bitcoin directly. In July 2025, Trump Media and Technology Group added Bitcoin and Bitcoin-related securities to its balance sheet, Yahoo Finance reports, riding a wave of corporate Bitcoin buying that fueled demand for Bitcoin ETFs.
Asset managers are watching the retirement market, but that door stays shut until the Labor Department finishes its rule. This change is not expected before late 2026 at the earliest.
What has Bitcoin done since Trump took office?
Bitcoin shot up to a record, then gave back a lot of those gains. Sherwood News says it hit an all-time high of $126,080 on October 6, 2025, after posting a new intraday record right on Inauguration Day. Early gains had plenty of support. ETF inflows and corporate treasury buying fed the run, Yahoo Finance explains. Then sentiment reversed. October 10, 2025 saw a record liquidation wave, and Bitcoin slid into the next year. By January 2026, institutional investors started pulling funds out of Bitcoin ETFs, according to Yahoo Finance.
Policy disappointments played a role, too. The reserve order did not trigger big government buying, and Congress never passed the highly awaited market structure bill. Sherwood News quotes analysts who blame both for the stall. The current price, $83,376.06 on September 24, 2026 from Binance, shows just how far the market has dropped since October’s peak. It’s also way below where a lot of holders hoped it would be. Put simply, the policy wins on paper did not translate into a smooth ride for anyone holding Bitcoin.
How do Bitcoin’s moves shape the rest of the crypto market?
Bitcoin sets the pace for the entire market: Everything else tends to follow, often more sharply. September 24, 2026 proves the point. Binance data puts Bitcoin down 2.88% on the day; Ether at $2,680.69, down 2.74%; Solana at $117.88, up 1.19%; XRP at $1.50, down 5.09%; and BNB trading at $782.79.
Outside shocks can hit everything at once. In January 2026, worries over new tariffs tied to Trump’s Greenland push triggered a crypto sell-off, Sherwood News reports. Washington’s policies aren’t always a boost; they can rattle the market too.
Some corners of the market are getting more direct benefits. Stablecoins and their connected tokens gained the most from the GENIUS Act, and the Trump family’s ventures are right there. Coins with clear US use cases get noticed when regulators ease up on enforcement. Those without? They just track the mood of Bitcoin.
What do Bitcoin’s swings mean for the broader economy?
Bitcoin trades like a rate-sensitive asset now: Interest-rate expectations matter more than headlines about crypto. That is the main takeaway from Binance Research’s monthly report dated September 7, 2026.
Analysts Moulik Nagesh, Michael JJ, Lim Kim Thye and Joshua Hunt say the total crypto market cap jumped 17.6% to $2.70 trillion on the strongest ETF month of 2026, but the rally was really a rate trade. They point to the Treasury’s expanded buyback program, which moved pressure from bond yields to the dollar, and a tough Jackson Hole speech from Fed Chair Kevin Warsh that unwound much of the move in a single session. They say that whether the gains hold depends on if spot and ETF demand keep up as the Fed keeps leaning toward tighter policy.
Banks are paying close attention. Bank of America CEO Brian Moynihan has warned a big chunk of US deposits could shift to stablecoins if regulators allow yield payments, according to Forbes. That’s part of why the debate over stablecoin rewards is stalled in the Senate. That tug of war between banks and stablecoin issuers is one to watch in the months ahead.
And if 401(k) plans open up to crypto after the Labor Department finishes its rule, retirement savings will start reacting to Bitcoin swings, too.
Where do crypto policy and Bitcoin go from here?
Congress is the next big hurdle. On September 15, 2026, the Senate’s procedural vote on the CLARITY Act failed, 49 to 50, eleven short of the 60 needed, according to official records from the Senate. Comprehensive market structure legislation probably won’t happen before 2027.
The real dispute was not about splitting oversight between the SEC and CFTC. The sticking point was ethics language on officials’ crypto holdings, Home Crypto Invest says. Democrats argued the bill did not really cover the president and his family.
A motion to reconsider was filed by Senator Thom Tillis, according to FinTech Weekly, so the bill could come back, most likely after the election. Meanwhile, GENIUS Act rules keep moving through agencies. So for now, expect progress to come in small regulatory steps rather than one big bang, and rate moves to keep steering the price.
What should you take away from this article?
Trump’s second term delivered a stablecoin law, a Bitcoin reserve order and a clear path toward crypto in retirement plans. It has also made him personally richer, $1.4 billion in crypto income in 2025 alone, according to Time. Businesses were quick to jump in. Banks, trust companies and public firms are all building around these new rules.
The price has not played along as neatly. Bitcoin surged above $126,000 in October 2025, according to Sherwood News, then settled at $83,376.06 on September 24, 2026. Binance Research calls the recent rally a rates story, more about central banks than policy moves. For anyone focused on crypto, here is the big takeaway: Washington opened some doors, but the Fed and Senate decide how quickly the market actually walks through.
FAQ
Has Trump created a Strategic Bitcoin Reserve?
Yes, officially. His March 6, 2025 order set up the reserve with forfeited Bitcoin, and coins in it can’t be sold. Any added purchases must be budget-neutral.
Can Americans hold crypto in a 401(k)?
Not yet. Trump signed the order in August 2025 and the Labor Department proposed a rule in March 2026, but it’s not final. Employers also decide whether to offer crypto as an option.
Did the CLARITY Act become law?
No. The House passed it in July 2025, but the Senate’s procedural vote failed on September 15, 2026. A new attempt will wait until after the election.
Author: Pam Brown
Pam Brown is a journalist with exceptional analytical skills and a strong interest in modern financial systems. She specialises in translating complex topics like crypto, loans, and forex into clear, accessible content. Pam’s precise, research-driven writing has made her a trusted voice in the financial and fintech space.
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