From the skeptic to the champion, President Donald Trump reshapes the country’s digital asset agenda from zero, pleasant and hard investors of bitcoin and even corner and dislocting the feathers of the law enforcement who thinks that he is engaged in the blatant self-crazy.
He warned once the cryptocurrencies “seemed to be a scam” and were “based on a thin air” and accused them of allowing criminal activity. Today, Trump says that he has been a “big fan of cryptography” from the start and oversees the most radical change of deregulation in the digital asset policy that the United States has ever seen.
“The change was dramatic. Under the former president Joe Biden, the Securities and Exchange Commission relied on an aggressive application without regulatory clarity. Under Trump, we see a pivot towards pragmatism – fewer general accusations, more targeted fraud actions and a clearer will to work with the industry,” said Mike Cahill, CEO of the company Web3 Douro Labs, Washington examiner.
The rapid evolution of Trump, from the prudent critic to the complete crypto evangelist with a full throat, is more than a personal pivot, said experts Washington examiner. It marks a net difference in the era of the repression of the Biden administration and reports a new chapter in the government’s approach to innovation, financial technology and the regulatory authority of the government.
From Gary Gensler to Paul Atkins: a break clean to the dry
Under Biden, the president of the SEC, Gary Gensler, carried out a wide application campaign against the digital asset industry. Gensler said on several occasions that most of the cryptocurrencies were titles, and he treated them as such, launching prosecution and surveys that have stifled access and innovation.
“President Gensler has never met crypto that he did not think of being security,” said Michael Lowe, partner of Troutman Pepper Locke and former federal prosecutor. “The dry of Biden had no interest in the advice – it was the application.”
This ERA of the application of the law ended in January. Trump replaced the people’s diet with a clarity focused, not punishment.
Eric Schiffer, President of the Investment Capital Society based in Los Angeles, Patriarch Organization, among other companies, compared the era people to the “tanks on the lawn” of the industry.
“Yesterday, the SEC parked tanks on the Crypto lawn; today, it distributes lemonade and long-term leaf brochures. We have gone from catapults above the ditch to guided tours of the castle,” said Schiffer.
After the recent confirmation of the President of the SEC, Paul Atkins, he launched a crypto working group to develop a framework that distinguishes titles and basic products – a critical demarcation line in the way digital assets are regulated.
“There has not been really an approach so far to really get advice on digital assets specifically security and which digital asset is specifically a commodity,” said Lowe.
LOWE noted that if a digital asset is classified as a product, it is regulated under the Commodity Futures Trading Commission. And if it is security, it will be dry.
“So, right now, the Trump administration is really interested in providing these advice,” said Lowe.
Trump: no more confusion criminalization
The Ministry of Justice has also filmed a corner.
In April, the Sub-Procureuer General Todd Blanche published a directive in break from prosecution based on unstable legal theories around the crypto. The memo said that the DoJ would rely on the federal agencies to establish rules – and apply these rules only defined.
“The Ministry of Justice will no longer pursue litigation or implementation measures which have the effect of superimposing regulatory executives on digital assets while the real regulators of President Trump do this work outside the framework of puminal criminal justice”, according to the text of the memo.
Lowe, a former fraud prosecutor, said that he “was involved in pursuits against cryptography fraud, and that what I have noticed is that most of the pursuits against crypto fraud are only prosecution against fraud.”
Last week, the administration demonstrated that it was still taking cryptographic fraud seriously in a prosecution announced by American lawyer recently installed for the District of Columbia Jeanine Pirro.
On Friday, Pirro announced the federal crisis of more than $ 800,000 in alleged profit of a “regime of confidence of cryptocurrencies” in which the criminals would have contacted the victims through “badly directed text messages”, of dating or professional meetings and investment groups. She also said that the United States had recovered nearly $ 2.5 million in cryptocurrency involved in “fraudulent confidence diets”.
“Whether in the streets of our district or hide behind a computer screen abroad, the United States will continue to hold responsible fraudsters and scabies, seize the money they swindle from workers and use our authority to compensate victims,” said Pirro.
Trump “ abandon the guilt mentality to the elaboration ”
Jeff Ifrah, a veteran of games and cryptocurrency, said that the administration was losing a central legal theory of Biden years: that the simple launch of a token could constitute a regulatory violation.
“They abandon the idea that the issue of a cryptographic digital token is the functional equivalent of a regulatory offense,” said Ifrah, who is also founder of the Crypto Consulting Company of Nexusone. “It was a theory of the Biden era, and even if the courts still maintained part of it, this administration wishes to replace it with regulations and legislation.”
Congress now intervenes with bipartite momentum.
The legislators of the two chambers advance bills such as the Act respecting engineering and the stable law, aimed at defining stablescoins and clarifying the rules of disclosure. A broader market structure bill, supported by the Republicans of the Chamber, offers a classification system for all digital assets.
From campaign promise to the political engine
The speed of Trump’s transformation surprised some observers – but not those closest to him. At the beginning of 2024, cryptographic fundraising from Mar-A-Lago and Silicon Valley began to attract major donors and attention. Shortly after, Trump spoke at a major industry conference in Nashville, committing to making the United States “the cryptographic capital of the planet”.
Since then, Crypto has been part of the Trump brand. Its administration has launched a strategic bitcoin reserve, prohibits the federal development of a digital currency from the central bank, and even participated in digital negotiation cards recalling the NFT craze while launching its own $ Trump token on the Solana blockchain just before resuming the Oval office.
His office is also stacked with members who support just as favorable to the digital market. The transport secretary, Sean Duffy, even admitted in 2023: “I am optimistic about Bitcoin. I don’t trust the dollar. “
$ Trump Coin Dinner sees mixed answers
However, Trump’s embrace did not come without criticism. A private dinner organized earlier this week for the best investors in the $ Trump memes play was the subject of a meticulous examination of ethical childcare dogs.
Although the play is exchanged openly and does not finance Trump directly because of the management of its assets, criticisms raised concerns about access, noting that participants included foreign nationals such as the Cryptographic billionaire Justin Sun.
“Anyone who was worried about the son of an art president should be able to see the ethical concerns of foreign interests giving through a meme piece,” said the GOP strategist, Doug Heye Washington examinerReferring to the auctions of Hunter Biden.
But participants and White House officials say that access problems are exaggerated. According to a guest who spoke to NBC News, Trump arrived by helicopter, delivered a 15 -minute speech on Bitcoin and Sovereignty, and left without taking photos or mingling.
“He has a helicopter, he has a helicopter,” said the guest. “We couldn’t really shake hands with him or anything. This is what I expected. “
The White House called dinner “a personal event” and stressed that the president complied with all applicable ethical laws.
However, some favorable crypto experts in the application of the Trump era include implications for the promotion of risky assets such as Trump’s meme coin, which increased by almost 1000% of its initial starting value when it was launched on January 17, only to disembark 500% on January 20, the day of the inauguration, and continued to slip even lower.
“Samecoins are the most volatile part of the cryptography market without intrinsic value,” said Nic Puckrin, a former Goldman Sachs analyst who runs a digital asset education portal called the corner office. “They are worse than Penny’s actions, and most of them finally lose 99% of their value. Encourage investors to have pieces even is a major political error and risks political repercussions. ”
Regulations by fear to regulation by framework
In the story of the Trump administration through actions, the crypto does not need to be feared – it must be understood. The new approach, according to experts, emphasizes intimidation regulations and seeks to restore the balance between innovation and surveillance.
Trump Same Coin Dinner serves ethical complaints on foreign influence
“Most prosecution against cryptography fraud are only prosecution against fraud,” said Lowe. “You don’t need new theories to continue crooks – you need clear rules. This is what this administration is trying to build.”
The question of whether this era of clarity offers the long -awaited stability that the industry wants to see. But one thing is clear: the crypto has never had a more enthusiastic or more powerful friend in power.
