Key takes
The return to President Donald Trump’s return to an oval office has shown a week of change in the cryptocurrency industry.
Bitcoin (BTCUSD) prices have reached a new highest history than Trump’s inauguration ceremony, as Market Watcher anticipated to change the cryptocurrency to government attitude. Since his swearing, the White House has provided a way to clarify regulations, relieves the attitude toward the regulations of parliament, and as a result, has brought a new product pipeline.
There are some things that happened in the encryption market last week when Trump was appointed.
Execution orders start kicking the progress of the encryption problem
In the first week of his inauguration, Trump talked to some promised Bitcoin and the cryptographic industry during his campaign.
He has signed a presidential order on digital assets and financial technology, has established a working group to create recommendations on the way to move forward, including the current encryption regulations and setups in Bitcoin Strategic Protection.
Some are worried that Trump may have taken the first step, but he is worried that he was the only promise. Trump initially supported the establishment of a strategic bitcoin stockpiling at last year’s bitcoin 2024, but the presidential decree simply explores potential stockpiling of “digital assets”. He stated that he would simply explore.
This order also hindered the creation of the Central Bank’s digital currency (CBDC).
SEC sofits the cipher stance
The execution -led approach to the US Securities and Exchange Commission (SEC) was previously in conflict with the encryption industry. But Trump seems to be working to change it.
Trump talked about driving out the chief, Gary Genler in the order of the campaign trail. However, Gensler resigned prior to Trump’s inauguration ceremony. Paul Atkins, an alternative to Trump, has historically supported encryption.
While Atkins was waiting for Congress for confirmation, Mark Ueda, the chief of institution, established a new encryption task force. Taskforce is led by SEC member Hester Perth, and Hester Perth promotes clarity in the cryptographic industries and publishes multiple oppositions to the SEC on cryptographic behavior. I did.
In fact, the SEC rejected the staff who calculated No. 121 (SAB 121), which is an accounting rules that hindered conventional banks and financial institutions as custodians of customer encryption assets.
New products are on the market due to encryption -friendly management
The encryption industry has launched a new product using the softening of this regulation.
Since the new administration was taken over, the SEC has received more than 30 new applications related to the Crypto ETF.
The publisher began with a larger established cryptocurrency, such as Litecoin, Solana, and Ripple, but it is clear that ETF publishers will test how much new SEC leadership permits them. Some of these applications, according to Bloomberg analyst, James Seifato, are highly risky products, such as twice the leverage Melania Mys Coin ETF.
In addition, NASDAQ applied to the owner of the Spot Bitcoin ETF, such as BlackRock’s Isheres Bitcoin Trust (Ibit), for actual redemption allowance. This means that Ibit holders can exchange actual bitcoin shares. However, this activity is limited to “approved participants”. Seyffart posted to X.
