As Trump is set to officially take office as President of the United States on January 20, 2025, global attention is focused on how this unconventional political figure will fulfill his campaign promises regarding the top ten new cryptocurrency policies.
Article Author: 0x9999in1, MetaEra
To welcome the upcoming inauguration of Trump as President of the United States on January 20, MetaEra has launched a special topic on the 'Trump Inauguration,' providing 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 professionals closely monitoring changes in U.S. policy. This ceremony is not just a celebration but a signal — it heralds a series of forthcoming reforms, particularly targeting the emerging cryptocurrency industry. As Trump is officially inaugurated on January 20, 2025, global attention is focused on how this unconventional political figure will fulfill his campaign promises regarding the top ten new cryptocurrency policies.
The top ten cryptocurrency policies mainly include:
● Make the U.S. the global capital of cryptocurrency
Trump promises that if re-elected, he will commit to developing the U.S. as the global center of cryptocurrency, supporting the development of emerging industries such as cryptocurrency and artificial intelligence.
● End the crackdown on the crypto industry within one hour of taking office
Promise to end the current government's 'illegal crackdown' on the cryptocurrency industry and protect the rights to Bitcoin mining and trading.
● Prevent the U.S. government from further developing CBDC
Trump opposes the U.S. government further developing central bank digital currency (CBDC), believing it would limit individual freedom.
● 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 ease regulations on the crypto industry.
● Prevent the U.S. from selling its held Bitcoin
He pledged not to sell the Bitcoin held by the U.S. government, ensuring that these assets continue to serve the nation.
● Propose using cryptocurrency to solve the U.S. debt issue
Trump suggests using cryptocurrency to address America's debt crisis, viewing it as an innovative solution.
● Propose a comprehensive cryptocurrency policy
He plans to formulate a comprehensive cryptocurrency policy covering aspects like 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 crypto industry.
● Reduce the sentence of 'Silk Road' founder Ross Ulbricht
He promised that if elected, he would consider reducing the sentence of Ulbricht, who was convicted due to the 'Silk Road' incident.
The difficulty and impact of implementing the top 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 'ending the crackdown on the crypto industry within one hour of taking office.' For Trump, 'making the U.S. the global capital of cryptocurrency' is not just a catchy slogan; the potential conflict lies in challenging traditional financial institutions and global economic policies. Creating a cryptocurrency-friendly environment that attracts businesses and talent requires time and space, involving aspects such as tax incentives and streamlined regulatory processes, which is a significant undertaking for Trump.
'Ending the crackdown on the crypto industry within one hour of taking office' sounds more like a catchy phrase aimed at garnering more votes, and is merely a rhetorical flourish directed at the crypto sector. If we set aside the one-hour time frame, Trump has made further moves regarding the appointment of a new SEC chairman, clarifying regulatory powers, and easing administrative oversight, all of which can indeed be swiftly implemented.
The easiest administrative task would be to reduce the sentence of 'Silk Road' founder Ross Ulbricht. Through presidential pardons and policy commitments, Trump could easily achieve this, but it would greatly reflect the importance of libertarian values in the crypto community and draw more attention to cryptocurrencies and the crypto industry.
Additionally, 'firing the SEC chairman' would imply a change in the SEC leadership, which could bring about a more innovation-friendly regulatory atmosphere. The proposal to 'establish a strategic Bitcoin reserve' 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 remain 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 major 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 across the U.S. and the globe. For all stakeholders in this field, it is an exciting yet challenging time.
