President Trump unveiled his top goals for his second term, but he left out cryptocurrencies. This has many people in the crypto community wondering what will happen with regulations for digital assets in the future. The administration’s “America First Priorities” were all about protecting the public, being energy independent, cutting down on wasteful government work, and promoting American ideals. However, the administration made no mention of Bitcoin, digital assets, or the strategic Bitcoin reserve that Trump had advocated for.
This oversight had an instant effect on the market, and Bitcoin fell 2% after hitting an all-time high of $109,000. The price dropped to about $103,735, and many other altcoins did the same, showing that buyers were worried. Trump’s speech and policy priorities quickly dashed the hopes of crypto fans, who had hoped for an executive order or a clear plan for sector regulation.
Trump said during his campaign that he would make the U.S. a world leader in cryptocurrencies. He even said that the U.S. might never sell its Bitcoin stocks. This, along with rumors of possible executive orders focusing on crypto laws, made people very excited. But since he didn’t talk about cryptocurrencies directly in his inaugural speech or when he announced new policies, the market mood has changed, at least for now.
Even so, there are still some positive signs for the crypto industry coming from the Trump government. Recently, the Commodity Futures Trading Commission (CFTC) named Caroline Pham as Acting Chair, and the Securities and Exchange Commission (SEC) named Mark Uyeda as Acting Chair. Pham and Uyeda have both pushed for policies that support cryptocurrencies in the past. They want clear and uniform rules that will help the market stay stable and grow.
The market took a short-term hit when Trump didn’t include crypto in his first list of goals, but these appointments suggest that digital currencies could still play a big role in how the administration regulates things in the future. We will have to wait to see if the campaign promises come true in the form of real rules for the digital assets area.
