Bitcoin broke the $100,000 mark yesterday for the first time. Although it later pulled back, this milestone is undoubtedly historically significant! Since November 5, Bitcoin has soared from $68,000 to $100,000, with a monthly increase of up to 47%.
Price is not the only determining factor for the cryptocurrency industry; it also concerns the support of the policy environment. If Trump can fulfill his commitments to the cryptocurrency industry after returning to the White House, especially by legislating to create greater development space for the industry, it could completely reshape the landscape of the cryptocurrency sector.
Abolishing SAB 121: This accounting announcement issued by the U.S. Securities and Exchange Commission (SEC) requires companies to classify customer-held cryptocurrency assets as liabilities, increasing financial burden. Trump promises to abolish this policy to alleviate the operational pressure on custodial platforms and exchanges, promoting capital operations and technological innovation.
Ending the 'Operation Choke Point 2.0': Trump plans to terminate the implicit suppression of cryptocurrency companies by the banking system, providing a fair financial environment for crypto enterprises and restoring public trust in the financial system.
Establishing a national Bitcoin reserve: Trump proposed using Bitcoin held by the U.S. government as a strategic reserve and encouraging U.S. companies to expand Bitcoin mining to strengthen the U.S.'s position in the cryptocurrency sector.
Friendly regulation and the establishment of committees: He plans to appoint regulatory officials who understand cryptocurrency technology and establish a dedicated presidential advisory committee to provide guidance and support to the industry. This initiative could reduce excessive enforcement of the cryptocurrency industry by agencies like the SEC.
Promoting the development of stablecoins: Trump opposes government-issued digital currencies (CBDCs) but supports the development of payment-oriented stablecoins to improve cross-border payment efficiency and the integration of traditional finance.
These policies are generally aimed at creating a more relaxed environment for the cryptocurrency industry, attracting more capital and technological investments. If these commitments are fulfilled, the U.S. cryptocurrency industry could gain a stronger competitive advantage globally.
