Trump Cryptonissance is here

The wheels have already made the U.S.Earth’s Crypto Capital” after he returned to the White House.

in presidential order Signing it on Thursday, Trump established a “Working Group on Digital Asset Markets.” It is responsible for weighing the possibility of the United States forming a “strategic national digital asset stockpile.”

The promise to establish a stockpile was one of numerous commitments Trump made to the crypto industry before he was reelected. Just an idea confused economistit received a enthusiastic reception Between Bitcoiners. as Rumors of an impending announcement Thursday, spread the price of Bitcoin climbs to $105,000 per coinjust below record highs.

The order also requires leaders from various government departments, financial regulators, and the Attorney General to come up with appropriate regulations and laws governing the use of cryptography.

Earlier in the week, on Trump’s second day in office, the Securities and Exchange Commission – the US regulatory agency brought volley of lawsuits Against crypto companies under the Joe Biden administration –Establishment “Cryptography Task Force”. There was a widespread presence under new leadership after the departure of former chairman Gary Gensler demonized in the cryptospherethe SEC will develop a “comprehensive and clear regulatory framework for cryptoassets,” the agency said.

Later the same day, Trump tolerated For crimes committed while operating the infamous darknet marketplace Silk Road, one of the first websites to accept Bitcoin as payment To Ross Ulbricht, who was living in prison. After his arrest in 2013, Ulbricht became something of a martyr in the crypto world, spreading the gospel of Bitcoin.

These first gestures show Trump’s willingness to follow Previous campaign promises: Pass various crypto-related laws, reform the US financial regulatory apparatus, and incorporate crypto into the US Treasury. We believe the effects will be far-reaching, reverberating far beyond our shores and creating the conditions for a new golden age for the industry.

“Our technology is extremely powerful and transformative,” said Joseph Lubin, co-founder of Ethereum and CEO of Software Company Consensys. It’s a standard setter for other parts of the world.”

Despite previously bashing Bitcoin as a “scam,” Trump now Extensive ties to the crypto industryits many famous members It came out as a support of his re-election campaign.

Crypto organizations prepare for 2024 elections donated hundreds of millions of dollars It spent money on crypto-focused super political action committees, many of them Republicans.

On the campaign trail, Trump made the first “crypto president. ” July, in front of a Furious crowd of BitcoinersTrump has promised to turn the United States into a crypto mining powerhouse and establish a national Bitcoin stockpile if re-elected. In the same speech, he vowed to fire SEC Chairman Gensler, prompting the night’s most enthusiastic applause.