Donald Trump, the 47th president of the United States, began his second tenure on Monday. Crypto was not on his list of priorities on the first day.
Both his inaugural speech The initials of the name are not his “America First Priorities” Executive actions included digital assets such as a Bitcoin strategic reserve or the changing of the controversial Securities and Exchange Commission (SEC), U.S. Securities and Exchange Commission rule “SAB 121,” As the crypto community hoped.
Trump’s failure to meet his promises is most obvious. You can also read about the issue here It is finally here! Ross Ulbricht, the controversial Silk Road market founder who is currently serving an unbroken double-life sentence.
Crypto-related actions were not included in the report, which disappointed many of its supporters. argued Trump could announce plans to create a Bitcoin Reserve or appoint a crypto-council.
Bitcoin’s historic peak was $109,000, before Trump took office. Since then it has fallen to $102,000 due to the silence of Trump on crypto. This dampened investor optimism.
Since Trump was elected in November, the price of Bitcoin has risen by nearly half. This is due to expectations that his administration would introduce policies favorable to the crypto industry.
Trump’s executive orders are not focused on cryptocurrency. Focus The President has a number of traditional priorities. These include withdrawing from the Paris Climate Accord (COP21) and World Health Organization. He also freezes federal hiring at most agencies and removes systems that allow migrants to book appointments for port-of entry.
He also told federal workers to work in person, full time, to show his strong opposition to the remote operation of government.
Trump has also failed to act on Executive Order 14067 from Biden’s era, which was a directive about digital assets. Industry leaders have criticized this.
Executive Order 14067 has been viewed as the foundation for “Operation Chokepoint 2.0,” a strategy of policy that led federal agencies to increase their enforcement against crypto companies.
Matthew Sigel is the head of VanEck Digital Assets and he has pointedly criticised Trump’s crypto czar. David SacksFor failing to give priority to its repeal.
“It was a miss to not repeal EO 14067, which encouraged every Biden agency to pursue max enforcement [with respect to] digital assets and led to … Chokepoint 2.0,” Sigel Tweet this On Monday,
Crypto community is in limbo due to lack of action. Polymarket was once associated with optimism. The odds of a Bitcoin strategic reserve being created within Trump’s 100-day period have plummeted, falling to an unimpressive 36%.
These predictions came after Trump’s rhetoric during his campaign. promised Fighting against the “unlawful and un-American crypto crackdown.”
Trump had been portrayed as a crypto-savior in his campaign speech. He promised End the “Democrats’ war on crypto,” Defense of Bitcoin mining. Protection of self-custody. And turning the U.S. to a world leader in digital currencies.
Sebastian Sinclair edited the book
