USA: Trump has a national reserve for Bitcoin & Co. under review
Donald Trump showed himself to be a friend of cryptocurrencies during the election campaign and received many donations in return.
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The new US President Donald Trump has ordered the establishment of a working group to develop new regulations for cryptocurrencies and examine the creation of a national reserve of cryptocurrency. This could be filled with Bitcoin confiscated by law enforcement agencies, according to the text of the decree. However, the main aim is to formulate new rules for the crypto industry and its development, which are intended to strengthen the US leadership role. However, the content of the executive order disappointed some in the crypto industry, who had expected Trump to have the reserve established directly. This could cause the price of the important cryptocurrency to rise further.
Support for cryptocurrencies
Trump, who was still a critic of cryptocurrencies such as Bitcoin in his first term of office and feared for the supremacy of the US dollar, changed his stance during the election campaign. In return, his election campaign has received millions in donations from the industry, which is hoping for much more freedom from the new government. The news agency Reuters quotes experts as saying that the implementation of Trump's plans could bring cryptocurrency into the mainstream. Bitcoin, the most important cryptocurrency, is currently trading at around 105,000 US dollars.
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Shortly before taking office, Trump caused a stir with the launch of a memecoin, followed shortly afterwards by his wife. Within a very short space of time, the market value of digital currencies rose to several billion US dollars. The President and First Lady could therefore also personally benefit massively from a crypto boom. On Thursday, the US Securities and Exchange Commission, under its new leadership, overturned a directive that required companies that manage digital currencies for their customers to provide additional collateral. This had always been criticized by the industry as too expensive and the move represented an initial win for them, explains Reuters. More could now come from the new working group.
(mho)
