The wheels are Already starting to turn on Donald Trump’s plan to make the United States in the “Crypto capital of the planet“Upon his return to the White House.
In an an Executive Order Signed Thursday, Trump has established a “Digital Assets Market Working Group”, which will be responsible for weighing the possibility of the United States to form a “strategic national digital asset storage”, among others.
The promise to establish a provider was one of many commitments made by Trump to the crypto industry before he was re -elected. Although the idea stumped economistsit received a a delightful acceptance between bitcoiners. As Rumors of a coming announcement spread on Thursday, the price of Bitcoin climbed to $ 105,000 per coinJust short of the record maximum.
The order also requires that the working group – which will include the leaders of various government branches, financial regulatory bodies and the Attorney General – invent a suitable set of regulations and laws governing the use of cryptocurrency.
At the beginning of the week, on the second day of Trump’s office, the Securities and Exchange Commission – the US regulatory body that brought Salvation of processes against cryptocurrencies under the Joe Biden management—established “Crypto Task Force.” Under new leadership following the departure of former President Gary Gensler, who was widely demonized in the cryptosphereThe SEC will develop a “comprehensive and clear regulatory framework for crypto assets,” declared the agency.
Later the same day, Trump gave gentleness Al Ross Ulbricht, who served lifetime in prison for crimes committed while managing the infamous Darknet fair Silk Road, one of the first sites to accept bitcoin as a payment. After being arrested in 2013, Ulbricht became some kind of martyr in crypto circles because of his part in spreading the Bitcoin Gospel.
These initial gestures signal Trump’s will earlier campaign promises: pass various crypto-related legislation, reform the financial regulatory device in the United States, and knit crypto into the US National Treasury. The effects will be comprehensive, cryptic figures believe, resonating much beyond US shores and creating the conditions for a new golden age for the industry.
“Our technology is very powerful and transformative. We need to get it in different societies,” says Joseph Lubin, co -founder of Ethereum and leader of the Consensys software. “And America is a standardist for the rest of the world.”
Despite previously despised Bitcoin as a “fraud”, Trump now has Extensive links to the crypto industrymany high -profile members of whom went out in support of from his re -election campaign.
Prior to the 2024 election, crypto organizations donated hundreds of millions of dollars To crypto-focused super-political action committees, which have spent the funds for support of crypto-friendly congressional candidates, many of them Republican.
During the campaign, Trump began to proclaim himself as the first “Crypto President. ” In July, before a a fierce crowd of bitcoinersTrump has promised to turn the United States into a crypto mining power and establish a national Bitcoin supply if re-elected. In the same speech, he promised to dismiss Gensler, the SEC chair, prompting the most delightful applause of the night.
