#Trump100Days Trump's policies towards digital currencies
• Supportive Executive Orders: Trump issued an executive order titled “Enhancing American Leadership in Digital Financial Technology,” which established a presidential working group to regulate digital assets, focusing on stablecoins. He also banned the creation of a U.S. Central Bank Digital Currency (CBDC).
• Strategic Bitcoin Reserve: Trump announced the establishment of a strategic reserve of Bitcoin using assets seized by the Treasury Department, along with a stockpile of other digital assets such as Ethereum, Solana, and Ripple, aiming to enhance the United States' position as the capital of digital currencies.
• Easing Regulatory Restrictions: The Securities and Exchange Commission (SEC) abolished accounting rules that hindered financial institutions from providing custody services for digital currencies, and halted lawsuits against major companies like Coinbase and Ripple, indicating a shift towards more friendly regulation.
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🪙 Launch of coin $TRUMP
• Controversial Meme Coin: Trump launched a digital currency bearing his name ($TRUMP) before his inauguration, which saw its market value rise to $13 billion within two days. However, this move sparked criticism over conflicts of interest, especially with Trump holding a significant stake in the currency.
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⚖️ Impact on the digital currency market
• Mixed Reactions: Despite the supportive policies, digital currencies did not see a significant rise as expected. Bitcoin dropped by 10% since inauguration day, reflecting the disappointment of some investors who were hoping for more stimulative policies.
• Cautious Optimism: Some analysts believe that regulatory changes could lay the groundwork for future growth in the digital currency market, but they note that the positive impact may take years to fully materialize.
