Positive statements or executive orders from trump regarding crypto could significantly increase investor confidence, leading to a price surge. the bitcoin act, if passed, would further boost btc's value.
While trump has expressed pro-crypto sentiments, the actual implementation of policies and their effectiveness remain uncertain. senate confirmation of atkins and the success of the bitcoin act are key factors.
A pro-crypto stance from the trump administration, coupled with potential legislation like the bitcoin act, creates a bullish outlook for bitcoin's price. however, this is contingent on successful policy implementation.
Significant price movements are unlikely to occur immediately. the impact of any new regulations or executive orders will unfold over time, potentially taking months or even years to fully materialize.
Zoltan Vardai 5 minutes ago Trump’s first week in office: Will crypto regulation take a back seat? Crypto investors and commentators are hopeful ahead of Trump’s inauguration, anticipating innovation-friendly regulations from his first day in office. 64 Total views Listen to article 0:00 News COINTELEGRAPH IN YOUR SOCIAL FEED Follow our Subscribe on Crypto investors are increasingly optimistic as they await the inauguration of US President-elect Donald Trump on Jan. 20, anticipating more innovation-friendly regulations in the world’s largest economy. Investors are also eagerly anticipating Paul Atkins as Trump’s pick for the new Securities and Exchange Commission chair . While Trump has previously highlighted his intentions to bolster crypto innovation in the US, issuing regulatory frameworks takes time, according to Anastasija Plotnikova, co-founder and CEO of Fideum — a regulatory and blockchain infrastructure firm focused on institutions. “Setting the right regulatory tone is crucial. […] The first week might not bring drastic changes, as meaningful and comprehensive legislation takes time,” Plotnikova told Cointelegraph. Atkins — who will need to be confirmed by the Senate — has a history of advocating for more market-friendly regulations, which could benefit the cryptocurrency industry, Plotnikova said. “I’m hopeful that Atkins and the new administration will take a balanced approach to foster innovation in the crypto space while ensuring proper oversight. It would be a great signal for the industry as a whole,” she said. Trump addressed the Bitcoin 2024 conference in Nashville, Tennessee in July, promising to make the US a global “crypto capital.” Source: YouTube Industry watchers also expect Trump to issue an executive order, potentially on day one, which would signal that he is making crypto policy a national priority . Sources familiar with the matter expect the order to focus on fostering innovation by encouraging collaboration between regulators and industry participants, potentially creating a crypto council to advocate for the industry’s policy needs. Related: FTX to begin distributing $1.2B to creditors after Trump inauguration Trump’s crypto executive order: How soon? Reports also suggest that Trump’s potential executive order may address crypto de-banking. Dmitrij Radin, founder of Zekret and chief technology officer of Fideum, told Cointelegraph that while Trump may not issue a full executive order immediately, a positive crypto-related statement is likely: “With Trump and Atkins in the mix, I'm pretty sure we’ll at least get some kind of statement from Trump on his first day, if not a full-on executive order. Trump likes to make a splash, and what better way than to show he’s the ‘crypto president’ he promised to be?” “While expecting an immediate executive order is unlikely, an early sign of crypto policy would be an optimistic sign for the industry’s prospects,” Radin said. He added: “If Trump does prioritize crypto on day one, it would likely be a high-level directive, something like establishing a task force or ordering an in-depth review of the regulatory landscape.” Related: Decentralized platforms may benefit from strict US crypto tax laws Among the most anticipated bills likely to be taken up by Congress under the new administration is the BITCOIN Act — championed by Wyoming Senator Cynthia Lummis — which proposes the creation of a strategic Bitcoin ( BTC ) reserve for the world’s largest economy. Lummis Introduces the BITCOIN Act. Source: Cynthia Lummis Bitcoin may eventually surpass the $1 million price tag if the BITCOIN Act is passed by US lawmakers, according to Adam Back , the co-founder and CEO of Blockstream, inventor of Hashcash and a noted cryptographer. However, Bitcoin’s market capitalization would need to attract another $2 trillion worth of capital to surpass the $200,000 mark alone, which would see BTC surpass Apple’s $3.7 trillion market cap to become the world’s second-largest asset. Magazine: BTC hits $100K, Trump taps Paul Atkins for SEC chair, and more: Hodler’s Digest, Dec. 1 – 7 # Bitcoin # Blockchain # Cryptocurrencies # Law # Business # Bitcoin Price # SEC # Bitcoin Regulation # Adoption # Legislation # United States # Donald Trump # DeFi # Regulation # Bitcoin Adoption # US Elections 2024 Add reaction