The Effect of 100 Days of Trump on Cryptocurrencies
Under the pro-crypto government of Donald Trump, the crypto community expects a clear legislative framework after the exit of the hostile administration. Although more than a hundred days have passed, this promise has not yet been fulfilled.
President Donald Trump, however, aggressively pushed to support the cryptocurrency sector. He promised during his election campaign to make the United States "the crypto capital of the world," and many in the crypto sector believe he got off to a fast start.
Trump acted quickly with executive orders and key appointments. Although he was eventually restricted to just bitcoin after some public criticism, he established a Strategic Bitcoin Reserve. His team also rolled back strict SEC regulations that hindered the free operation of crypto companies.
A clear support for cryptocurrencies came from newly appointed executives in major organizations like the FDIC and the SEC. The SEC even suspended its lengthy case against Ripple and began negotiating with business leaders to produce fairer regulations.
Still, many opponents noted Trump's and his family's crypto activities. When Trump launched a meme coin increasing his net worth and secured exclusive lunches for top holders, some of them turned up their noses.
Emerging from a session on the future of cryptocurrencies on May 6, Representative Maxine Waters protested against crypto corruption under Donald Trump.
