In the first 100 days of Donald Trump's second term (January 20 – April 29, 2025), his administration has taken significant steps to reshape U.S. cryptocurrency policy. While these actions signal a pro-crypto stance, market reactions have been mixed.
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🏛️ Key Executive Actions
1. Executive Order 14178: "Strengthening American Leadership in Digital Financial Technology"
Signed on January 23, 2025, this order:
Revoked prior guidance on central bank digital currencies (CBDCs), effectively halting any U.S. plans to develop a CBDC.
Established the President’s Working Group on Digital Asset Markets to propose a federal regulatory framework for digital assets within 180 days.
2. Establishment of the Strategic Bitcoin Reserve
On March 6, 2025, Trump signed an executive order to:
Create a Strategic Bitcoin Reserve, utilizing approximately 200,000 BTC seized by federal agencies.
Form a U.S. Digital Asset Stockpile for other forfeited cryptocurrencies like Ethereum (ETH), Solana (SOL), Cardano (ADA), and Ripple (XRP).
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🏛️ Regulatory and Legislative Developments
SEC Leadership Change: Paul S. Atkins, a known crypto advocate, was appointed as SEC Chair on April 21, 2025, replacing Gary Gensler. Atkins is expected to pursue a more lenient regulatory approach toward digital assets.
Legislative Actions: Congress passed the STABLE Act and the GENIUS Act, aiming to provide clearer regulations for stablecoins and digital assets.
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📉 Market Response
Despite these initiatives, the crypto market has experienced a downturn:
Bitcoin's price fell by 10.2% since Trump's inauguration, dropping from a record $109,225.
The decline is attributed to investor concerns over trade policies and the introduction of a Trump-themed meme coin, which some view as a distraction.
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🧑💼 Industry Reactions
Crypto industry leaders have expressed cautious optimism:
The establishment of the Strategic Bitcoin Reserve is seen as a positive step toward legitimizing digital assets.
However, stakeholders emphasize the need for comprehensive legal frameworks, particularly concerning token classification and stablecoin regulation.
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📊 Summary
President Trump's early actions in his second term indicate a strong commitment to integrating cryptocurrency into the U.S. financial system. While regulatory changes and strategic initiatives have been implemented, the market's response underscores the necessity for clear, comprehensive policies to foster investor confidence and industry growth.
