Main to remember
- Trump has signed an executive decree on digital assets, looking for recommendations on regulations and possibly implementing a digital stock.
- The SEC has already become more friendly with the cryptographic industry by canceling Sab 121, by creating a cryptographic working group and announcing the pro-Crypto Mark Uyeda as interim president.
- The issuers are ready to test the limits of the new position of the dry on the crypto, because the agency has received a flood of requests from new types of FNB Crypto.
The return of President Donald Trump to the Oval Office inaugurated a week of changes in the cryptocurrency industry.
Bitcoin prices (BTCUSD) have reached a new record of all time above $ 109,000 before the inauguration of Trump while market observers provided changes to government position towards cryptocurrency. Since he was sworn in, the White House has contributed to providing a path to the clarity of the regulation and the softened position of the legislators on the regulations, resulting in a pipeline of new products.
Here are some things that have happened in the cryptographic markets last week that Trump was in office.
Kickstarts dropping out on crypto problems
During his first week in power, Trump responded to some of the promises he made to the bitcoin and crypto industry during his campaign.
He signed an executive decree on digital assets and financial technology, creating a working group to examine current crypto regulations and make recommendations on the path to follow, in particular the potential implementation of a Bitcoin Strategic Reserve .
Some fear that, although Trump took the first step, was not all he promised. While Trump originally supported the creation of a strategic bitcoin stock at the Bitcoin 2024 conference last year, the decree noted that this working group would simply explore a potential national stock of “digital active ingredients”.
The order also prevented the creation of a digital currency from the Central Bank (CBDC).
Sec softens the position on the crypto
The approach to the regulation focused on the application of the Securities and Exchange American Commission (SEC) commission was previously in contradiction with the cryptographic industry. However, Trump apparently works to change this.
Trump had spoken of the list of the president of the dry at the time, Gary Gensler, on the campaign track. However, Gensler resigned before the inauguration of Trump. Trump’s choice for his replacement, Paul Atkins, has always supported the crypto.
While Atkins awaits confirmation of the congress, the chief of the agency theater, Mark Uyeda, has created a new working group in crypto. The working group will be led by the SEC Commissioner, Hester Peirce, who pressure for more regulatory clarity for the cryptographic industry and has published multiple dissenting opinions on the actions related to the crypto during his stay at La .
In addition, in what is indeed a turnaround, the accounting bulletin of the canceled personnel canceled has canceled the sec n ° 121 (SAB 121), an accounting rule which prevented traditional banks and financial institutions from acting as guards For cryptographic assets for their customers.
The user -friendly crypto administration leads new products to the market
The cryptography industry takes advantage of this softening of the regulatory position to launch new products.
Since the new administration took over, the SEC has received more than 30 new applications related to cryptographic ETFs.
While the issuers have started with larger and more established cryptocurrencies like Litecoin, Solana and Ripple, it is clear that the ETF issuers will test how far the new leadership of the dry will allow them to go. According to Bloomberg analyst, James Seyffart, some of these applications are intended for risky products, such as an ETF with the same melania effect.
In addition, Nasdaq and others have applied for redemptions in kind for holders of Bitcoin Etf spot such as Ishares Bitcoin Trust of BlackRock (Ibit). This means that Ibit holders could exchange their actions for real bitcoin; However, this activity would be limited to “authorized participants”, Seyffart published on X.
