The 'Washington Way of Working' may lead to the inability of the cryptocurrency industry to improve immediately after Trump's inauguration.
The following is a brief summary of the impact of Trump's policies on the cryptocurrency industry:
• Trump's Policy Commitments:
• During his campaign, Trump made several commitments to the cryptocurrency industry, including support for the cryptocurrency and artificial intelligence sectors.
• He promised to fire SEC Chairman Gary Gensler, establish a Bitcoin reserve, and prevent the development of CBDCs.
• Uncertainty in the Legislative Process:
• The timeline for the first cryptocurrency legislation to pass through Congress is still unclear.
• Legislation may be pushed in 2025, with key topics including stablecoin legislation and the FIT21 bill.
• The legislative process may face opposition from Senate Democrat Elizabeth Warren.
• Macroeconomic Impact:
• The Federal Reserve's monetary policy will continue to affect the cryptocurrency market, with loose policies being favorable for Bitcoin.
• The U.S. government's debt issues may become a new focus for the market, impacting Bitcoin's safe-haven attributes.
• Industry Outlook:
• Changes in Trump's policies are a positive factor for the cryptocurrency industry, but industry participants should remain cautious.
• Pay attention to the impact of the legislative process and macroeconomic dynamics on the cryptocurrency market.
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