- The executive order aims to reduce the regulatory framework
- Trump’s early efforts aimed at renewing and strengthening the encoded currency sector
- The encryption values were riding an ascending trend to the re -election of Trump
President Donald Trump took another step towards his promise to make the United States “the planet’s encryption capital” on Thursday, and signing Executive order It aims to enhance the local cryptocurrency sector and explore the possibility of a new national stock of digital assets.
“The digital asset industry plays an important role in innovation and economic development in the United States, as well as the leadership of our international nation,” it states. “Therefore, my administration policy is to support responsible growth, use digital assets, Blockchain technology and related technologies in all sectors of the economy.”
It includes a guidance to create a new presidential working group on digital asset markets and will be assigned to “develop a federal regulatory framework that governs digital assets, including Stablecoins, and evaluating the creation of strategic national digital assets.”
Historically, federal law enforcement officials have submitted an auction on the assets of the encrypted currency that was seized in criminal investigations, according to a report from CNBC.
According to the matter, “AI AI and Crypto CZAR DAVID SACKS” will head the group, which will also include the Treasury Secretary, Chairman of the American Securities and Stock Exchange Committee, and “Chairperson and Other Related Agencies”.
The White House fact newspaper, accompanying the arrangement, notes that efforts aim to “eliminate organizational transgression on digital assets and protect American economic freedom.”
Trump’s encryption from the face
In the period before the 2024 elections, Trump reflected his previous position as a critic of the digital currency market, which he described in one case as a “fraud” during his first term. Since then, he has controlled his being in support of encryption and made repeated pledges to the campaign to create a friendly space for the sector. Among his comments in support of the Krokbo was a promise during a speech at a cryptocurrency conference last summer, under his administration, “The rules will be written by people who love your industry, and they do not hate your industry.”
Trump achieved this pledge last month, as Paul Atkins chose to chair the Securities and Stock Exchange Committee. Atkins, who held the position of SEC Commissioner from 2002 to 2008, is widely known as a strong supporter of the encrypted currency market.
Trump highlighted Atkins’s position on digital currencies in the declaration of selection, published on the social truth in December.
“Paul is a leader attached to the good sense regulations,” Trump wrote. He believes in the promise of strong and innovative capital markets that respond to the needs of investors, which provide capital to make our economy the best in the world. He also realizes that digital origins and other innovations are very important to make America ever. “
How the encryption markets interact with Trump winning a second term
Trump’s pro -digital currency position has fueled an increase in value through the cryptocurrency market, including Bitcoin, which broke the brand of $ 100,000 for the first time in early December and flirted with $ 110,000 later in the month before facilitating prices slightly. The digital symbol ended in 2024 by more than 100 % for this year, as it achieved almost half half after Trump’s electoral victory in early November.
Bitcoin put another high -value standard on Monday before the opening, as it rose to more than $ 109,000 before dilution later in the day. Acts on the middle of Friday, Bitcoin was trading for a little less than $ 107,000 per code, according to the tracking by Coingecko.
The President and First Lady Melania Trump took their personal diving in encrypted currencies, separately launched the Trump and Memie Mimi currencies before the opening ceremony on Monday.
Trump’s official code entered the market on January 17 at about $ 6.50. In the middle of the day on Friday, the currency was trading for a little more than $ 33, and got the market value of more than 6.6 billion dollars, according to its tracking. Coingecko.
The Melania currency has been trading much lower than its opening market value of less than $ 8.50 on January 19, and it was traded about $ 2.60 from mid -Friday, each. Coingecko.
