3 Bitcoin and Crypto Market Changes During Trump’s First Week Back In The Oval Office | Global News Avenue

President Donald Trump returned to the oval office and ushered in a week of changing the cryptocurrency industry.

Bitcoin (Bitcoin (BTCUSD) The price has reached a new height More than $ 109,000 Prior to Trump’s inauguration ceremony, market observers expected the government to change the position of cryptocurrencies. Since he was sworn in, the White House has provided a clear way for supervision and softening legislators to regulatory positions, which has led to the channels for new products.

In the past week when Trump took office, something happened in the cryptocurrency market.

Administrative orders start the progress of encryption issues

In the first week of working, Trump made some commitments to the Bitcoin and cryptocurrency industries during the campaign.

He signed Administrative order Regarding digital assets and financial technologies, establish a working group to check the current encrypted regulations, and make suggestions on the road to advance, including the possible establishment of a Bitcoin strategic reserve.

Some people are worried that although Trump may take the first step, this is not him promiseEssence Trump was originally support Last year, a strategic Bitcoin inventory was established at the Bitcoin 2024 conference. The administrative order pointed out that the working group will simply explore the potential “digital assets” of the state inventory.

This command also prevented creation Central Bank Digital Currency (CBDC).

SEC’s soft position on cryptocurrencies

this US Securities and Exchange CommissionThe law enforcement -driven regulatory method (SEC) has previously conflicted with the cryptocurrency industry. However, Trump seems to be working hard to change this.

Trump talked about Gary Gensler, president of the campaign at the time of the strike. However, Gasler resigned before the Trump inaugural ceremony. Trump’s choice His substitutePaul Atkins has always supported cryptocurrencies in history.

When Atkins is waiting for Congress to confirm, the agency director of the agency Mark Uyeda, Established a new encryption working groupEssence The team will be led by the SEC commissioner Hester Peirce, which provides a more standardized clarity for the encryption industry and published a variety of objections on cryptocurrency -related actions during the SEC period.

Similarly, in an effective turnover, SEC has revoked the employee accounting announcement No. 121 (SAB 121), which is an accounting rule that prevents traditional banks and financial institutions from serving as Crypto assets.

Crypting friendly management will push new products to the market

The crypto industry is using this regulatory position to launch new products.

Since the new government has taken over, SEC has received more than 30 new applications related to encrypted ETFs.

Although the issuer starts from Litecoin, Solana, and Ripple, and more mature cryptocurrencies, it is obvious that ETF issuers will test the new SEC leadership how far will allow them to go. According to Bloomberg analysts James Seyffart, some of them are suitable for products with higher risks, such as 2 times leveraged Melania Same angle ETF.

In addition, Nasdaq and others also applied for the physical redemption allowance to the holder Point Bitcoin ETF For example, Ishares Bitcoin Trust of Belaider (goTo. This means that IBIT holders can exchange their shares to actual Bitcoin; however, this event will be limited to X. SEYFFART’s “authorized participants”.