The cryptography industry wanted Donald Trump to become the 47th American president, and they spent big to get there.
About 48% of all the money in the company contributed to the 2024 electoral cycle from crypto companies, and the 2024 elections saw 250 members of the “pro crypto” congress elected with 16 “pro crypto” senators.
Now that Trump is sitting in the White House, the sector is more and more eager to discover exactly what the return on investment could be. As a candidate, Trump has made many promises and calls to cryptographic industry. As president, he has not yet mentioned Bitcoin for official basis.
But while the first days of the 47th presidency lacked a lot of cryptography meat, the tide began to turn Thursday (January 23) while the first American “president of cryptography” published a decree, entitled “Strengthen American leadership in digital financial technology», Taking up many desires, needs and concerns of the sector.
The Executive Decree called for a complete project of federal cryptography regulations, as well as the first steps to explore the creation of a stock of national digital assets and the ban on digital currencies of the Central Bank (CBDC).
Wednesday January 22, the president pardoned The founder of Silk Road, Ross Ulbricht, making another of his campaign promises the cryptography sector.
Among the most crucial of the recent Crypto actions in the Trump administration, there was the decision on Thursday of the Securities and Exchange Commission (SEC) Cancel The accounting bulletin of the staff of the Biden era n ° 122 (SAB 122), an accounting bulletin which forced the cryptographic guards to record a safeguard obligation.
The repeal of SAB 122, according to the observers, will ultimately allow banks to interact more freely with the cryptography sector.
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Trump’s crypto policies are spread out volatility and market debates
While campaigning as a “first president of cryptography” in the United States, Trump made at least eight promises to his supporters of cryptography. They were: to free Ross Ulbricht, fire then president of the dry Gary GenslerEstablish a Bitcoin national reserve, kill the “ChokePoint 2.0 operation”, protect the self-leather, prohibit the CBDC digital dollar, undermine bitcoin in the United States and set up clear regulations.
Despite a slow start, the administration was able to take the first step towards the majority, or six in eight of these promises.
However, before undertaking one of these actions, the new president announced two pieces even, $ Trump and $ Melania, a decision that criticisms – many of the cryptography industry – claims to distract and even undermine legitimation Cases of use of financial blockchain and others cryptographic assets such as stablecoins. These tokens skyrocketed on the day of the inauguration on Monday (January 20) but were faced with immediate volatility, falling on Tuesday January 21.
“The main thing that people think of crypto is:” Oh, this is just a casino for these memes pieces “,” said Nic Carter, a supporter of Trump and partner of the investment company Crypto Castle Island Ventures, according to a report. “It makes the opposite to validate us, it makes it completely inserted.”
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The emerging landscape of crypto innovation
However, as Pymnts wrote, the election of Trump “marks an important change in policy which is lighter on regulations and railings and more pro-growth and pro-innovation”. This is more and more confirmed on the market.
According to a Sunday report (January 26), a venture capital company Andreessen Horowitz is even closing his British office in the middle of a new emphasis on the American cryptography sector after the election of Donald Trump. The investor opened the British branch in 2023, his first outside the United States, in the midst of regulatory pressure in the United States
At the same time, and perhaps without surprise, Elon Musk will plan to use blockchain technology at Government Department of Effectiveness (DOGE), by a report on Saturday January 25. Musk, head of the new agency, launched the idea of using a large digital book to monitor federal spending, paying, securing data and managing government buildings.
The recent finance tower of $ 20 million $ 1Boney to develop a Stablecoin payment network illustrates the growing appetite for alternative payment solutions that offer both stability and efficiency, and shows that cryptographic startups shake also a niche.
