Ammar: Trump’s decision to leave Biden’s crypto order intact raises concerns about his commitment to industry reform.
Trump Leaves Biden’s Crypto Order Intact, Raising Questions About His Commitment to Reform
On his first day back in office, President Donald Trump repealed 78 executive orders issued by Joe Biden. However, one notable order—Executive Order 14067—remained untouched. This order, often associated with “Operation Choke Point 2.0,” has been widely criticized for imposing stricter regulations on the cryptocurrency industry. Under its framework, U.S. regulators have restricted crypto firms' access to banking services, leading to the closure of institutions like Silvergate Bank and Signature Bank.
The decision to leave this order in place has left the crypto community perplexed. During the 2024 Bitcoin Conference, Trump strongly condemned “Choke Point 2.0” and vowed to eliminate it upon returning to office. Yet, on his first day, neither the order nor its impact on the industry was addressed. Critics, including analyst Adam Cochran, have expressed frustration over the administration’s silence, raising concerns that agencies like the SEC and FDIC still wield significant power to curtail crypto-related businesses.
Regulators argue that such measures are necessary to safeguard the financial system, but many in the digital asset space view them as deliberate efforts to suppress the industry. The pattern of regulatory scrutiny leading to the disappearance of crypto-friendly banks has only intensified these concerns.
Despite this, Trump did take a notable step by pardoning Ross Ulbricht, the founder of Silk Road, signaling some level of support for crypto-related causes. However, the broader question remains: Will Trump fulfill his campaign promise to end Operation Choke Point 2.0, or has it fallen off his agenda? Until decisive action is taken, uncertainty continues to loom over the future of the U.S. crypto industry.#AnimecoinOnBinance #BinanceAlphaAlert #trumpcoin #cryptocurrency 