The President of the United States Donald Trump concluded his speech at the Inaugural Address without Even mentioning Bitcoin or cryptocurrency.
Meanwhile, Punchbowl News reported that a document sent by Republicans outlining the White House’s new priorities also fails to mention digital assets and Bitcoin.
The document does not reflect Trump’s views on the crypto industry, such as creating a Bitcoin reserve to tackle inflation and fostering BTC mining in the country.
It does not include the Executive Orders that are used to create policies. Recently, reportedThe US President has said that crypto will be a top priority in the US. He plans to establish a crypto-advisory council, review policies for digital assets, stop or suspend litigations against crypto companies and build a Bitcoin national stockpile.
Instead, Trump’s priorities focus on border security, energy independence, government reform, and cultural issues. This includes bold measures like suspending resettlement of refugees, pulling out from the Paris Climate Accord and implementing sweeping changes to the federal bureaucracy.
The document is not explicit about crypto but it does emphasize policies such as the “America First Trade Policy” and “empowering consumer choice,” which could indirectly impact the tech sector, including digital assets.
Despite not mentioning crypto, none of the 20 largest crypto by market cap posted losses on the hour following Trump’s speech.
Nominations say otherwise
Leaving crypto out of two crucial political instances leaves enthusiasts questioning if Trump is to keep up with his promises.
Yet, his nominations have been pro-crypto so far. The new US Securities and Exchange Commission (SEC) chair, Paul Atkins, is a known innovation-friendly figure who has also been the co-chairman of the Digital Chamber’s Token Alliance since 2017.
Additionally, the new US administration created its first role in the White House, the “crypto czar,” which focuses on creating a regulatory framework for this industry. Trump chose David Sacks, former PayPal COO and tech venture capitalist, for the role.
Although the race for a new Commodity Futures Trading Commission (CFTC) chair is still ongoing, reports have cited pro-crypto figures Summer Mersinger, a current CFTC Commissioner, and Brian Quintenz, a16z crypto policy chief and former CFTC commissioner, as “odds-on front-runners” for the role.
Meanwhile, Caroline Pham, who also advocated for a comprehensive regulatory sandbox to foster crypto and tokenization growth in the US, was nominated as acting CFTC chair.
Furthermore, on-chain data revealed that Trump family-backed money market World Liberty Financial bought $47 million worth of Bitcoin on Jan. 20. Despite his failure to mention crypto on the first day of his presidency, Donald Trump is making steps that suggest a positive attitude toward this industry.
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