Trump's First 100 Days on Crypto:
During Donald Trump's first 100 days, several actions have had a positive effect on cryptocurrencies. Trump has taken steps to embrace crypto more openly and has made efforts to ease regulatory burdens on the industry.
He pardoned the three cofounders of crypto exchange BitMEX and another employee, ending legal battles that had been ongoing since 2020. Additionally, he appointed David Sacks as his "Crypto Czar" and established a new SEC "Crypto Task Force" to support the industry.
Trump also signed legislation repealing an IRS rule that would have required DeFi brokers to follow the same reporting rules as brokers for securities, which was seen as a significant crypto-friendly regulation.
Furthermore, he signed an executive order to establish a bitcoin reserve, although the reserve will consist of currencies seized by the government rather than additional purchases. These actions have generally been viewed positively by the crypto community, though some were disappointed that the bitcoin reserve did not include additional demand for the cryptocurrency.
However, it's important to note that some of these actions, such as the creation of a bitcoin reserve, have also faced criticism and disappointment from parts of the crypto community.
