Trump rewrites crypto rules in first 100 days, industry celebrates ‘180 pivot’ from Biden years

In Hong Kong, people pass by a Bitcoin advertisement featuring Donald Trump.

As Donald Trump marks 100 days into his second term as President, his approval ratings are lower than any other administration at this point in over seven decades. However, the crypto community remains supportive of him.

Trump had pledged to make America the “crypto capital of the world,” and many in the industry feel that he has made progress towards that goal. Executive actions, strategic appointments, and policy changes such as creating a Strategic Bitcoin Reserve and easing SEC regulations have made the crypto industry feel more accepted in Washington, D.C.

Despite facing criticism for proposing a strategic crypto reserve involving various digital currencies, Trump clarified that the plan would focus solely on bitcoin and not use taxpayer funds. Additionally, he has been accused of benefiting financially from a token surge and involving his family in crypto projects.

While some concerns remain about Trump’s family involvement in crypto, the industry is largely pleased with the administration’s efforts to support and regulate the crypto sector. The appointment of crypto-friendly officials and the engagement with industry stakeholders have been viewed positively.

Although challenges remain, such as the Federal Reserve’s cautious approach to crypto, the industry is optimistic about the future under the Trump administration. The administration’s support for innovative technologies like blockchain and its efforts to integrate crypto into the financial system have been well-received by industry players.