As Donald Trump is set to officially take office as the President of the United States on January 20, 2025, the global spotlight is focused on how this unconventional political figure will fulfill his campaign promises of the ten new cryptocurrency policies.
Author: 0x9999in1, MetaEra
To welcome the upcoming inauguration of the 47th President of the United States on January 20, MetaEra has launched a special topic on the "Trump Inauguration", which will provide comprehensive coverage of the presidential inauguration ceremony.
Trump's grand inauguration ceremony in Washington, D.C. marks the beginning of a new era, not only for American citizens, but also for international investors and tech professionals closely following changes in U.S. policies. This ceremony is not only a celebration, but also a signal - it foreshadows a series of upcoming reform measures, particularly targeting the emerging cryptocurrency industry. With the official inauguration of President Trump on January 20, 2025, the global spotlight is focused on how this unconventional political figure will fulfill his campaign promises of the ten new cryptocurrency policies.
The ten new cryptocurrency policies mainly include:
●Making the U.S. the global capital of cryptocurrencies
Trump has promised that if re-elected, he will strive to develop the U.S. into the global center of cryptocurrencies, supporting the development of emerging industries such as cryptocurrencies and artificial intelligence.
●Stopping the crackdown on the cryptocurrency industry within one hour of taking office
He has promised to end the "illegal crackdown" on the cryptocurrency industry by the current administration and protect the rights of Bitcoin mining and trading.
●Preventing the U.S. government from further developing CBDC
Trump opposes the U.S. government's further development of Central Bank Digital Currency (CBDC), believing that this will restrict personal freedom.
●Establishing a strategic Bitcoin reserve
Trump plans to establish a national-level Bitcoin reserve, making Bitcoin one of the U.S. strategic assets.
●Firing SEC Chairman Gary Gensler
He stated that if elected, he will immediately dismiss the current Chairman of the U.S. Securities and Exchange Commission (SEC) to relax regulations on the cryptocurrency industry.
●Preventing the U.S. from selling its Bitcoin holdings
He has promised not to sell the Bitcoin held by the U.S. government, ensuring that these assets continue to serve the country.
●Proposing to use cryptocurrencies to solve the U.S. debt problem
Trump suggests using cryptocurrencies to address the U.S. debt crisis, believing this to be an innovative solution.
●Proposing a comprehensive cryptocurrency policy
He plans to develop a comprehensive cryptocurrency policy covering areas such as stablecoin regulation and user self-custody rights.
●Establishing a Cryptocurrency Advisory Council
Trump plans to establish a dedicated advisory council to formulate transparent regulatory policies and support the development of the cryptocurrency industry.
●Reducing the sentence of Silk Road founder Ross Ulbricht
He has promised that if elected, he will consider reducing the sentence of Ulbricht, who was convicted due to the "Silk Road" incident.
Difficulty and Impact of Implementing the Ten New Policies
Among the ten new cryptocurrency policies, the most challenging to achieve are "Making the U.S. the global capital of cryptocurrencies" and "Stopping the crackdown on the cryptocurrency industry within one hour of taking office". "Making the U.S. the global capital of cryptocurrencies" is not just a catchy slogan for Trump, as the potential conflict lies in the need to challenge traditional financial institutions and global economic policies. Creating a cryptocurrency-friendly environment that attracts businesses and talents requires time and space, involving tax incentives, simplified regulatory processes, and other aspects, which is a major challenge for Trump.
"Stopping the crackdown on the cryptocurrency industry within one hour of taking office" sounds more like a populist slogan aimed at garnering more votes, and is just empty rhetoric towards the cryptocurrency industry. If we set aside the one-hour time frame, Trump has already taken further actions in the direction of appointing a new SEC chairman, clarifying regulatory responsibilities, and relaxing administrative regulations, which can be implemented quickly.
The easiest administrative task is to reduce the sentence of Silk Road founder Ross Ulbricht. Through presidential pardon and policy commitments, Trump can easily accomplish this, which will greatly reflect the importance of the libertarian values of the cryptocurrency community and draw more attention to cryptocurrencies and the cryptocurrency industry.
Furthermore, "Firing the SEC Chairman" implies a change in SEC leadership, which may lead to a more innovation-friendly regulatory environment. The proposal to "Establish a strategic Bitcoin reserve" would be an unprecedented move, indicating the government's willingness to directly participate in the digital asset market.
New Expectations for the Trump Inauguration
Although the specific details are yet to be revealed, it can be certain that Trump's official inauguration will likely lead to a short-term price increase in Bitcoin and other major cryptocurrencies, but the long-term trend will still depend on the actual policy implementation and market confidence.
Over the next four years, we will witness a profound transformation of the cryptocurrency ecosystem, both in the U.S. and globally. For all industry players focused on this field, this is an exciting and challenging era.
