Trump’s first day in office leaves crypto waiting for action

Despite the lack of immediate federal policy clarity, the crypto market remains optimistic, buoyed by Bitcoin’s strong performance and the anticipation of favourable regulatory changes.

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On 20 January, Donald Trump returned to the White House for his second term as President, delivering a speech focused on unity, economic growth, and border control. However, the crypto community noticed a glaring omission—there was no mention of cryptocurrencies or Bitcoin, despite recent developments involving the Trump family in the crypto space, including the launch of their meme coins. The lack of attention to crypto has left the industry uncertain about Trump’s stance, but optimism remains.

The first day of Trump’s second term saw a flurry of executive orders, but none addressed cryptocurrency. Despite hopes for swift action on issues like Bitcoin reserves or crypto advisory councils, the day passed without immediate policy clarity. However, insiders suggest that significant moves are still in the pipeline, including potential executive orders banning central bank digital currencies (CBDCs) and easing restrictions on banks holding digital assets.

Behind the scenes, the Trump family has continued to bet on crypto, with Donald Trump Jr. announcing $120 million in investments across various crypto assets, including Ethereum, Wrapped Bitcoin, and Chainlink. Additionally, key regulatory changes have already begun, with pro-crypto figures taking leadership roles in the SEC and CFTC, which may signal a more favourable regulatory environment for the industry.

Although Trump’s administration has yet to take definitive action on crypto, the market remains hopeful, with Bitcoin maintaining strong performance and hints of regulatory shifts sparking optimism. While the immediate future is unclear, the crypto industry remains eager for what might come next under Trump’s leadership.