With Donald Trump in office, the cryptocurrency sector is expecting positive regulatory changes and a potential economic boost. Let’s take a look at his promises and the expectations and impact that the sector expects.
The arrival of Donald Trump to the presidency of the United States this Monday, January 20, has generated great expectations and an intense debate about what awaits the cryptocurrency sector in the next 4 years.
With a history of support for the traditional financial sector and an initially skeptical stance toward digital currencies, Trump surprised many during his presidential campaign by adopting a more open discourse toward the crypto ecosystem. Now, as president, his initial promises and actions are being scrutinized by investors, companies and regulators. What does your tenure mean for the future of cryptocurrencies in the United States?
A change of stance: From skeptic to crypto-defender
During his first presidency, between 2017 and 2021, Trump was quite critical of cryptocurrencies, claiming that they were “not money” and that their value was based on “thin air.” However, since then, his stance towards these digital assets has evolved significantly.
In 2022, Trump began to make use of blockchain technology, launching his first collection of NFT tokens. However, the most notable shift towards crypto assets came during his campaign for the November 2024 presidential election, when publicly and openly acknowledged the potential of cryptocurrencies to boost innovation and the American economy.
In a speech in Florida, Trump said the United States must lead the cryptocurrency revolution. “We cannot allow other countries to overtake us in this technology of the future”, he said, making it clear that he would focus on building a new policy to boost the development and innovation of cryptoassets if he was elected president.
His statements marked a turning point in his relationship with the crypto sector and generated new expectations about possible regulatory changes and favorable policies for this industry.
Trump's key promises for the crypto sector
One of Trump's most notable promises during his campaign has been the Creating a clear and favorable regulatory framework for cryptocurrencies. Currently, the sector faces a fragmented landscape in the United States, with different agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) applying contradictory rules. Trump has promised to unify these regulations under a single standard, in order to reduce legal uncertainty and attract more companies and investments. In early December, he even created a new position focused on emerging technologies, blockchain and AI, appointing David Sacks like the new White House “cryptocurrency and artificial intelligence czar”.
In addition, Donald Trump has expressed his intention to boosting blockchain adoption in key sectors such as logistics, healthcare and defenceHis administration has mentioned plans to create tax incentives for companies developing blockchain-based technologies, which could position the United States as a global leader in this growing industry.
Other relevant promises have been to protect the rights of cryptocurrency investors and to create a strategic Bitcoin reserveTrump has criticized the abusive practices of some exchange platforms and has promised to strengthen oversight to ensure transparency and security for users, while ensuring that his nation will recognize Bitcoin as a strategic reserve asset and that it will become the crypto capital of the world.
La competition with other powers Like China and the European Union, it is also a factor that his new administration is considering. China has made rapid progress in developing its digital currency, the digital yuan, while the EU is working on a comprehensive regulatory framework for cryptocurrencies. Trump has signaled that the United States cannot be left behind in this technological race.
Trump's first actions towards cryptocurrencies
After winning the November election, Trump began to take concrete steps that have been welcomed by the crypto community. For example, he has so far appointed several cryptocurrency supporters to key positions in his cabinet. He has also met with key players in the crypto world, who are looking to drive a noticeable change in the country, and one of the most notable has been to appoint Paul Atkins, former SEC commissioner, to lead the agency following the departure of Gary Gensler.
The appointment of David Sacks as the White House's cryptocurrency and artificial intelligence czar has also been another important move by Trump to ensure the formulation of regulatory policies friendly to these innovations, and to extend a more direct bridge between the government and the private sector.
Now, with the White House inauguration today, the crypto community is looking forward to the Possible signing of an executive order to reverse Joe Biden’s restrictive policy towards digital assets and establish an interagency working group to advance innovation and technological development. The new administration is also expected to end the long-running SEC lawsuit against Ripple and its policies will allow for greater integration of cryptocurrencies into traditional finance, opening the doors to new products based on these assets, such as XRP, Litecoin and Solana spot ETFs, among others.
The crypto community has reacted positively to these and other actions, highlighting how encouraging it is to see that the Trump administration is taking the potential of cryptocurrencies and digital assets seriously. Several experts have already stated that the creation of a clear regulatory framework is essential for the growth of the sector in the country.
However, others have also expressed caution, noting that Trump’s promises for cryptocurrencies need to be translated into concrete actions. Thus, despite initial optimism, the path to mass adoption of cryptocurrencies in the United States may face several challenges, especially that of turning Bitcoin into a sovereign store of value asset.
The impact on the crypto market
The crypto community is confident in the United States' potential to become a global hub for blockchain and cryptocurrency innovation, capable of attracting investment and talent from around the world, and all of this is reflected in the current market performance.
In the last week, the total capitalization of cryptocurrencies has recovered more than 17%, surpassing the $3,7 trillion dollars. Also, in the last few hours, the trading volume of crypto assets increased by more than 25%. Data from CoinMarketCap shows that around $250.000 billion is being traded daily in cryptocurrencies.
Source: CoinMarketCap
However, the creation of a favorable regulatory ecosystem for cryptocurrencies in the United States could boost the development of new applications and services, and accelerate the growth in value of these digital assets. Moreover, if the United States adopts favorable policies, it could exert a positive influence on other countries, encouraging the adoption of similar regulations for cryptocurrencies.
Overall, Trump's presidency marks a pivotal moment for the future of cryptocurrencies in the United States. If the promises materialize, the United States could establish itself as a global leader in the cryptocurrency and blockchain revolution.
Main image from Donald Trump's official account on X.
