Donald Trump began his second term as the 47th president of the United States on Monday, and crypto was not particularly high on the administration's list of priorities, at least on the first day.
Neither is his. Opening speech The first “America First Priorities” executive actions mentioned digital assets, the strategic Bitcoin reserve or the repeal of the US Securities and Exchange Commission's (SEC) controversial law “SAB 121” as the crypto community expected.
Amazingly, Trump hasn't yet matter Sorry for the long wait Ross UlbrichtThe founder of the controversial Silk Road marketplace, who is serving two life sentences without parole.
It disappointed the fans who had to leave the actions related to crypto He argued Trump Establishes Presidential Crypto Council or Announces Bitcoin Reserve Plans
Bitcoin hit a historic high of $109,000 before Trump's inauguration and has since corrected to $102,000 following the president's silence on the crypto, dampening market optimism.
The value of the world's largest crypto has risen nearly 50% since Trump's election in November, on expectations that the administration will introduce policies favorable to the crypto sector.
Trump's first executive order instead of focusing on crypto Focused On cultural priorities like withdrawing the US from the Paris climate accord and the World Health Organization, freezing federal hiring at most agencies and dismantling systems that allow immigrants to schedule port-of-entry appointments.
The 47th US president has ordered federal employees to return to full-time and in-person work, marking his stand against remote work in government.
Trump has not acted on Executive Order 14067, a Biden-era directive on digital assets, drawing criticism from industry leaders.
Executive Order 14067 is seen as the basisOperational Chokepoint 2.0A policy strategy that has led federal agencies to increase enforcement actions against crypto companies.
Matthew Siegel, head of the VanEck Digital Assets division, criticized Trump's crypto czar. David Sachsfor failing to prioritize cancellation.
It would have been a shame not to rescind EO 14067, which would have encouraged every Biden agency to pursue higher performance. [with respect to] Digital Assets and to… Chokepoint 2.0,” Siegel He tweeted. on Monday.
The lack of immediate action has left the crypto community reeling. The optimism that once surrounded Polymarket Bet In Trump's first 100 days, odds of creating a strategic Bitcoin reserve have nosedived, falling to 36 percent.
Those predictions followed Trump's campaign rhetoric. He promised. To fight against “illegal and un-American crypto mining”.
Trump's campaign rhetoric painted him as the savior of the crypto industry. He He promised. To end the “Democrats' war on crypto”, prevent Bitcoin mining, protect self-government rights, and make America the global leader in digital assets.
Edited by Sebastian Sinclair
Daily Debrief Newspaper
Start every day with top news stories, plus original features, podcasts, videos and more.
