In the initial 100 days of his presidency, Donald Trump's approach to cryptocurrency has had significant implications. Following his inauguration, Trump quickly introduced a crypto-focused executive order establishing an interagency Working Group aimed at stablecoin legislation. This was followed by a plan for a strategic bitcoin reserve, which generated considerable industry reaction. Key appointments, particularly Paul Atkins and Brian Quintenz to lead the SEC and CFTC, respectively, are expected to shape regulatory frameworks significantly. The SEC is poised to clarify regulations surrounding digital assets and the role of custodians, while the CFTC is preparing to assume greater industry oversight. Industry stakeholders are keenly awaiting more executive actions, particularly those coordinating legislative efforts among agencies. The stakes are high as ongoing legal challenges and the regulation of decentralized finance (DeFi) gain momentum, as underscored by an industry letter expressing concerns over government overreach in cases like that of Tornado Cash. The next 100 days will be crucial for advancing the regulatory landscape.

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