Article sourced from: Meta Era
To welcome the upcoming inauguration ceremony of Trump as President of the United States on January 20, MetaEra has launched a special feature titled 'Trump Inauguration,' which will provide comprehensive coverage of the 47th presidential inauguration.
Trump's grand inauguration ceremony held in Washington, D.C. marks the beginning of a new era, not only for American citizens, but also for international investors and tech professionals closely watching changes in U.S. policy. This ceremony is not just a celebration, but a signal - it foreshadows a series of upcoming reforms, especially concerning the emerging cryptocurrency industry. With President Trump's official inauguration set for January 20, 2025, global attention is focused on how this unconventional political figure will fulfill his campaign promises regarding the ten new cryptocurrency policies.
The ten new cryptocurrency policies mainly include:
●Make the U.S. the global cryptocurrency capital
Trump has promised that if re-elected, he will work to make the U.S. a global cryptocurrency hub, supporting the development of emerging industries such as cryptocurrencies and artificial intelligence.
●Stop suppressing the cryptocurrency industry within one hour of taking office
Commitment to end the current government's 'illegal suppression' of the cryptocurrency industry and to protect the rights of Bitcoin mining and trading.
●Prevent the U.S. government from further developing CBDCs
Trump opposes the U.S. government's further development of a Central Bank Digital Currency (CBDC), believing it would restrict personal freedoms.
●Establish a strategic Bitcoin reserve
Trump plans to establish a national Bitcoin reserve, making Bitcoin one of America's strategic assets.
●Fire SEC chairman Gary Gensler
He stated that if elected, he would immediately fire the current chairman of the U.S. Securities and Exchange Commission (SEC) to relax regulations on the cryptocurrency industry.
●Prevent the U.S. from selling its Bitcoin holdings
He has promised not to sell the Bitcoin held by the U.S. government, ensuring that these assets continue to serve the nation.
●Propose using cryptocurrencies to solve America's debt problem
Trump suggests using cryptocurrencies to address America's debt crisis, viewing it as an innovative solution.
●Propose a comprehensive cryptocurrency policy
He plans to draft a comprehensive cryptocurrency policy covering aspects such as stablecoin regulation and user self-custody rights.
●Establish a cryptocurrency advisory committee
Trump plans to establish a dedicated advisory committee to formulate transparent regulatory guidelines to support the development of the cryptocurrency industry.
●Reduce the sentence of 'Silk Road' founder Ross Ulbricht
He has pledged that if elected, he will consider reducing the sentence of Ulbricht, who was convicted due to the 'Silk Road' incident.
The difficulty and impact of implementing the ten new policies
Among the ten new cryptocurrency policies, the two that seem most challenging to implement are 'making the U.S. the global cryptocurrency capital' and 'stopping the suppression of the cryptocurrency industry within one hour of taking office.' 'Making the U.S. the global cryptocurrency capital' is not just a catchy slogan for Trump; the potential conflict lies in challenging traditional financial institutions and global economic policies. Creating a cryptocurrency-friendly environment that attracts businesses and talent will require time and space, involving tax incentives, simplifying regulatory processes, and more - a heavy lift for Trump.
The phrase “Stop suppressing the cryptocurrency industry within one hour of taking office” sounds more like a catchy slogan aimed at gaining more votes, specifically directed at the cryptocurrency sector. If we don't get tangled up in the one-hour time frame, Trump has indeed taken further actions regarding the appointment of a new SEC chairman, clarifying regulatory responsibilities, and easing administrative oversight, all of which can be implemented quickly.
The easiest administrative action would be to reduce the sentence of 'Silk Road' founder Ross Ulbricht, which Trump could easily accomplish through presidential pardons and policy commitments. However, this would greatly highlight the importance of liberal values within the cryptocurrency community and draw more attention to cryptocurrencies and the crypto industry.
Moreover, 'firing the SEC chairman' implies a change in the SEC leadership, which could lead to a more innovation-friendly regulatory atmosphere. The proposal to 'establish a strategic Bitcoin reserve,' if realized, would be an unprecedented move, indicating the government's willingness to directly participate in the digital asset market.
New expectations for Trump's inauguration ceremony
Although specific details are yet to be revealed, it is certain that Trump's formal inauguration will likely lead to a short-term increase in the prices of Bitcoin and other mainstream cryptocurrencies, but the long-term trend will still depend on the actual implementation of policies and factors such as market confidence.
In the next four years, we will witness profound changes in the cryptocurrency ecosystem in the United States and globally. For all stakeholders in this field, it is an exciting and challenging time.
