Written by: Meta Era
In preparation for the upcoming inauguration of Donald Trump as President of the United States on January 20, MetaEra has launched a special feature titled 'Trump's Inauguration', which will provide comprehensive coverage of the 47th presidential inauguration.
Trump's grand inauguration ceremony in Washington, D.C. marks the beginning of a new era, not only for American citizens but also for international investors and tech industry figures closely monitoring U.S. policy changes. This ceremony is not only a celebration but also a signal—it heralds a series of upcoming reform measures, especially aimed at the emerging cryptocurrency industry. With Trump's official inauguration on January 20, 2025, the world's attention is focused on how this unconventional political figure will fulfill his ten cryptocurrency policies promised during the campaign.
The ten new cryptocurrency policies mainly include:
Make the U.S. the global capital of cryptocurrency
Trump promises that if re-elected, he will work to develop the U.S. into the global center of cryptocurrency, supporting the development of emerging industries such as cryptocurrency and artificial intelligence.
Stop suppressing the cryptocurrency industry within one hour of taking office
Promise to end the current government's 'illegal suppression' of the cryptocurrency industry and protect the rights to Bitcoin mining and trading.
Prevent the U.S. government from further developing CBDC
Trump opposes further development of Central Bank Digital Currency (CBDC) by the U.S. government, believing it would restrict individual freedom.
Establish a strategic Bitcoin reserve
Trump plans to establish a national Bitcoin reserve, making Bitcoin one of America's strategic assets.
Dismiss SEC Chairman Gary Gensler
He stated that if elected, he would immediately dismiss 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 promises not to sell the Bitcoin held by the U.S. government, ensuring that these assets continue to serve the nation.
Suggest using cryptocurrency to solve the U.S. debt problem
Trump suggests using cryptocurrency to address the U.S. debt crisis, believing it to be an innovative solution.
Propose comprehensive cryptocurrency policies
He plans to develop a comprehensive cryptocurrency policy covering stablecoin regulation and user self-custody rights.
Establish a cryptocurrency advisory committee
Trump plans to form a dedicated advisory committee to establish transparent regulatory guidelines to support the development of the cryptocurrency industry.
Reduce the sentence of 'Silk Road' founder Ross Ulbricht
He promises 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 most challenging to achieve are 'making the U.S. the global capital of cryptocurrency' and 'stopping the suppression of the cryptocurrency industry within one hour of taking office'. 'Making the U.S. the global capital of cryptocurrency' 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 other aspects, which is a heavy task for Trump.
'Stop suppressing the cryptocurrency industry within one hour of taking office' sounds more like a catchy phrase aimed at gaining more votes, and is more of a rhetorical statement directed at the crypto industry. If we don't get caught 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 relaxing administrative regulations, which can be implemented quickly.
The easiest executive action would be to reduce the sentence of 'Silk Road' founder Ross Ulbricht. With the presidential pardon and policy commitments, Trump could easily achieve this, which would greatly reflect the importance of liberal values in the cryptocurrency community and attract more attention to cryptocurrencies and the crypto industry.
Additionally, 'firing the SEC chairman' implies a change in SEC leadership, which could create a more innovation-friendly regulatory environment. The proposal to 'establish a strategic Bitcoin reserve' if realized would be an unprecedented move, indicating the government's willingness to directly engage in the digital asset market.
New expectations for Trump's inauguration
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 market confidence.
In the next four years, we will witness profound changes in the cryptocurrency ecosystem both in the U.S. and globally. For all industry participants paying attention to this field, it is an exciting and challenging time.
