Donald Trump’s first day as president has been marked by a number of commitments, both to the crypto-industry and elsewhere.
Let’s take a look at some of the vows he made in his recent inauguration:
Taxes to be increased
Trump’s tariff proposals have been making headlines since months. He made another promise in late November: an increase of 10% on China and 25% on Canada. Both countries soon signaled that they would be willing to talk.
Trump claimed that the upcoming elections will be held on November 8th. “External Revenue Service,” A new agency, which will collect the tariff revenues, is set to be established on Monday. Forward Guidance is of the opinion that tariffs will increase at a slower rate.
The Silk Road’s creator sentence
In May, Trump pledged that he would commute the sentence for Ross Ulbricht. Ulbricht has served a life-long sentence with a 40 year plus double.
Ulbricht was convicted on seven federal counts including narcotics conspiracy and money laundering for his role in founding the Silk Road marketplace. Evidence was presented by prosecutors during the trial to support allegations that Ulbricht paid $730,000 for murder-for hire fees. However, he wasn’t charged with this crime.
SAB 121 is Overturned
Trump is reportedly planning to reverse SEC SAB 121’s controversial SAB 121 guidelines, which says that custodians of crypto assets should list the custodied items as liabilities in their balance sheet.
Last year, President Biden vetoed an bipartisan measure that attempted to achieve this goal. He argued the legislation was flawed. “would inappropriately constrain” The SEC.
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