Trump and Crypto Regulation Changes Trump didn’t discuss crypto in his executive orders on January 20. Bitcoin’s price dropped by 6%, which upset many people. Many people in the crypto world aren’t too worried about this, though. They think Trump’s support for it is clear, like when he launched a new memecoin. They also want better rules so that the new leaders at the SEC and CFTC will be more crypto-friendly for Trump’s US. Experts are hopeful that simpler and better rules will come soon. President Donald Trump returned to work on January 20 and signed several orders. However, none of these rulings addressed digital currency or its regulation, worrying crypto enthusiasts.
Trump’s Crypto Promises: Concerns Amid Price Drop
Trump had backed digital assets during his campaign, so the fact that he hadn’t done anything about it raised some questions. In this case, Bitcoin’s price dropped 6% from its high point of $108,786 to around $102,000.
Even so, many people in the neighbourhood aren’t too worried about it. Some traders called it “Satoshi Flipper,” which “reminds everyone that Trump already supported Crypto Prediction Markets by launching a new meme coin over the weekend.”He didn’t think. The market had peaked because the price of Bitcoin had gone down. Will Clemente, co-founder of Reflexivity Research, agreed. He said people were being too dramatic and that soon there would be good rules.
New Regulatory Leadership: A Positive Change for Crypto
Changes in key regulatory positions have also been made that should benefit the crypto business. Jake Chervinsky, a lawyer with the Blockchain Association, said that Mark Uyeda and Caroline Pham, the new heads of the SEC and CFTC, are friendlier to crypto.
They need to make the rules easier to understand and better. “Macro Scope said it was unrealistic to expect Trump to discuss Bitcoin in his inaugural speech because that would not be addressed in that event. Jeremy Allaire, CEO of Circle, spoke about his thoughts at the World Economic Forum in Dallas. He believes Congress will soon focus on regulations and goals and that Trump will change a law prohibiting banks from holding digital assets.
Many people think things will improve in the end, even though Trump didn’t do anything immediately. With leaders willing to help and focusing on making rules more apparent, there is hope that things will get better soon.
Final Thoughts
At first, Trump and Crypto Regulation Changes executive orders didn’t talk about cryptocurrencies, which may have made investors nervous since Bitcoin’s price dropped afterwards. But most people in the crypto community don’t seem to care. They still think that Trump’s past support for digital assets will lead to better rules. There is also hope for more precise and helpful rules because the leaders of critical regulatory groups like the SEC and CFTC are constantly changing.
Even though the immediate reactions may have been dramatic, the long-term picture is still positive. Traders and experts think the market could settle and grow as leaders who are more open to cryptocurrencies make new rules. Talking about and supporting digital assets will continue to be very important. It is shaping the future of cryptocurrency, and many people think that good things are on the way.
