Donald Trump's plan to turn the US into the “Cryptoh capital of the planet” after his return to the White House is already starting.
In a Thursday signed Implementation Decree, Trump has set up a 'working group for digital asset markets', which will, among other things, be responsible for weighing the possibility that the US will form a 'strategic national stock of digital assets'.
The promise to build a stock was one of the many commitments that Trump made to the crypto industry before he was re-elected. Although the idea surprised economists, it was enthusiastically received among bitcoiners. When the rumors about an upcoming announcement spread on Thursday, the price from Bitcoin climbed to $ 105,000 per coin, just below the record high.
The order also requires that the working group-which will consist of the leaders of different government branches, financial regulatory authorities and the attorney general-comes with an appropriate series of regulations and laws that control the use of crypto.
Earlier this week, on Trumps second office, the Securities and Exchange Commission-the American regulatory body that had brought a whole series of lawsuits against crypto companies under the government of Joe Biden-set up a 'crypto-task force'. Under new leadership after the departure of former chairman Gary Genler, who was widely demonized in the cryptosphere, the SEC will develop a “comprehensive and clear regulatory framework for crypto assets,” said the agency.
Later that same day, Trump granted Grace to Ross Ulbricht, who was sentenced to life imprisonment for crimes committed during the running of the notorious DarkNet marketplace Silk Road, one of the first websites that Bitcoin accepted as a means of payment. After being arrested in 2013, Ulbricht became a kind of martyr in crypto circles because of his share in spreading the Bitcoin gospel.
These first gestures indicate the willingness of Trump to realize earlier campaign blows: the adoption of various crypto-related legislation, the reforming of the financial regulatory device in the US, and the insertion of crypto into the national treasury of the US. The effects will be extensive, according to crypto figures, which will resound far beyond the American coasts and create the conditions for a new golden age for industry.
“Our technology is very powerful and transformative. We have to spread it in various societies, “says Joseph Lubin, co -founder of Ethereum and CEO of software company Consensys. “And America is a standard setter for the rest of the world.”
Although he has previously rejected Bitcoin as a 'scam', Trump now has extensive ties with the crypto industry, many high-profile members supported his re-election campaign.
In the run-up to the 2024 elections, crypto organizations devoted hundreds of millions of dollars to crypto-oriented super-political action committees, which spent the money in support of crypto-friendly conference candidates, including many Republicans.
During his campaign, Trump began to label himself as the first 'crypto president'. In July, in front of a fanatic crowd of bitcoiners, Trump promised to turn the US into a powerhouse for cryptomining and to construct a national bitcoin stock if he were re -elected. In the same speech, he promised to dismiss Gensler, the chairman of the SEC, which led to the most compelling applause of the evening.
