President-elect Donald Trump is expected to sign several executive orders ing cryptocurrencies. According to a report by Wu Blockchain, the president-elect could sign orders establishing a Bitcoin reserve within the United States and ending the de-banking policy.
The president-elect is also expected to nominate various pro-crypto officials in crucial positions. The crypto community appreciates the new changes, adding that they could positively impact the economy by promoting innovation in the financial landscape. However, Trump’s idea of establishing a Bitcoin reserve has reportedly sparked controversy in the community.
Crypto is disappointment in Biden’s istration’s regulatory laws
According to Trump’s manifesto, America’s first strategic reserve will prioritize US native digital currencies such as Ripple, USDC, and Solana. Reports also indicate that the president-elect met with several of these companies’ founders to discuss the idea and its implementation.
However, the crypto community expressed disappointment in Biden’s istration, especially under Gary Gensler’s reign as the SEC chair. According to recent reports, the market is optimistic that the four years of regulatory harassment could end under Trump’s leadership.
The appointment of pro-crypto individuals such as Paul Atkins as the new SEC chair and David Sacks as AI and crypto czar marked a shift in heralding possible policy reversals towards legitimizing the industry. “The entire market is relieved we have a seismic shift in the approach and tone of the government and regulatory agencies,” said Frank Chaparro, an early BTC investor.
The community has also responded to Trump’s de-banking measures. Nic Carter, an investor at Castle Island Ventures, stated that Biden’s istration was riddled with bank harassment, especially of those working with cryptocurrencies.
