What is the White House's attitude? By comparing the Biden and Trump administrations, you will be able to see through the reasons for this decline!!!
The White House's attitude towards cryptocurrency is quite complex, with different emphases at different times, mainly reflected in the following aspects:
During the Biden Administration
Emphasis on Risks and Regulation: The White House under Biden is highly concerned about the risks associated with cryptocurrency and advocates for increased regulation. The 2023 'Annual Economic Report of the President' dedicates a chapter to discussing digital assets, pointing out that cryptocurrencies are highly speculative, have limited economic benefits, and that their prospects as a currency are not optimistic. It also mentions that stablecoins are not stable, and that crypto assets may be harmful to consumers and investors, criticizing cryptocurrencies and expressing a desire to strengthen scrutiny.
Release of Risk Mitigation Roadmap: In February 2023, the White House released the 'Roadmap for Mitigating Cryptocurrency Risks', indicating a hope that Congress would take strong action to address issues in the crypto space, while the government continues to advance in administrative aspects, implementing relevant recommendations from previous executive orders, and encouraging regulatory agencies to strengthen enforcement and combat misconduct in the sector.
During the Trump Administration
Showed Support: During his campaign, Trump expressed support for cryptocurrency, with his team discussing the establishment of a new position in the White House specifically responsible for cryptocurrency policy. If this position is established, it would be the first of its kind in the White House, highlighting the importance of the cryptocurrency sector in Trump's plans. Stop Regulatory Crackdown: Trump promised to fire Gary Gensler, the chairman of the Securities and Exchange Commission, who holds a skeptical view of cryptocurrency, on his first day in office and to halt regulatory crackdowns on the crypto industry. He also planned to create a 'Crypto President' image, ensuring access to banking services for crypto companies through executive orders, and his media technology group TMTG has also revealed possible plans to engage in cryptocurrency trading and payment services.
Continued optimism for the Elon Musk concept puppies community, which is continuously building strong consensus, also actively involved in rescuing stray dogs and other charitable causes both domestically and internationally, is a loving community that deserves attention!
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