Trump Administration’s First Day Omits Mention of Digital Assets, Industry Still Hopeful
Donald Trump, now serving as the 47th president of the United States, did not address cryptocurrency during his inaugural speech on Monday.
The omission came as a surprise to some, especially since earlier reports hinted at an executive order related to digital assets being a priority for his administration. Instead, the initial policy focus highlighted issues like energy independence and immigration, leaving cryptocurrency enthusiasts speculating about future announcements.
Reports last week suggested that the administration was exploring the establishment of a crypto advisory council and a national policy framework. However, Bitcoin prices reacted negatively to the lack of mention, briefly dropping to $100,000 after reaching $109,000 earlier in the day. It has since stabilized around $102,000.
Optimism from Industry Leaders on Regulatory Changes
Despite the initial silence, Circle CEO Jeremy Allaire remains confident that a digital asset executive order is forthcoming. Speaking at the Reuters Global Markets Forum, he shared his belief that such actions are “imminent” and could include significant regulatory updates.
Allaire specifically criticized the SEC’s Staff Accounting Bulletin (SAB) 121, which has been controversial due to its impact on financial institutions holding digital assets. Although the Senate attempted to overturn the policy in 2024, it was vetoed by former President Joe Biden.
The Circle CEO expressed hope that the new administration would prioritize reversing such restrictive measures, emphasizing the potential for clearer regulations in the coming weeks. Industry leaders are now watching closely for any developments in Trump’s early days in office.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
