Can Trump’s Crypto Policies Turn Out To Be A Game Changer?

In his previous tenure as the US President, Donald Trump was mildly critical of cryptocurrencies. However, after a few years, his views dramatically changed for good. In the last election campaign, he consistently highlighted his love for cryptocurrencies, especially Bitcoin. He made headlines by labeling Bitcoin as a strategic reserve for the US. His promises of liberalizing and standardizing crypto regulations can be a game changer. Donald Trump’s crypto policies and the subsequent ripple effect can have a positive impact on crypto companies such as PayBitoPro that focus on launching crypto exchanges and brokerage in just 3 minutes.

Factors That Are Favoring Bitcoin And Other Cryptos

It is undeniable that the present-day circumstances are favorable for both Bitcoins and cryptos. This is why Bitcoin surged above $105,000 and there is a huge amount of optimism around it. Moreover, Donald Trump’s crypto policy is partially responsible for the growing enthusiasm among crypto supporters. Let us summarize some of those factors.

• Support For Crypto Regulations

Donald Trump is widely known now for his support for reasonable and lenient crypto regulations. This step can attract institutional investors and reduce scrutiny. Clear regulations can encourage skeptical investors to invest in cryptos and make lucrative profits.

• International Trends

The domination of Bitcoin can influence broader market sentiment and popularize altcoins. It can lead to the widespread adoption of cryptos in the retail industry and even rival fiat currencies.

• Market Forces

The market forces may become more volatile and trade volumes can increase substantially because of Bitcoin. Thus, it can have a ripple effect on altcoins and lead to better output. The market forces may lead to more adoption of blockchain technology across industries.

Crypto Policies Transforming Into Legislative Actions 

Several crypto enthusiasts expect that Donald Trump will implement his crypto policies not just through executive orders, but also through clear legislation. The expectations are:

• Blockchain companies may have to deal with lenient compliance regulations.
• Fraudulent activities will be reduced considerably through innovation.
• The Commodity Futures Trading Commission will become the main collaborator to deal with crypto assets. 
• Appointment of key pro-crypto figures to ensure faster growth of cryptocurrencies through mass adoption.
• Enact legislation to reduce misuse of cryptocurrencies in terror financing.
• Promotion of US Dollar-backed Stablecoins to ensure better integration between fiat and cryptos.
• Encourage lawful use of blockchain networks for mining and validation, and safer custodial rights for digital assets.
• Forbid the use or creation of Central Bank Digital Currencies (CBDC) to encourage more growth of cryptocurrencies.
• Resolve or reduce jurisdictional issues concerning cryptocurrencies through regulatory clarity.

Bottom Line

Donald Trump’s crypto policies can indeed become a game changer for the crypto community. The executive actions of President Trump have the potential to transform the US into a “crypto capital of the planet”. Legislation can indeed affect the crypto industry and turn the US into a regulatory environment to move forward. Cryptocurrency exchanges may evolve further to accommodate the rapid changes owing to the policies. However, there are some bottlenecks and disputes that require international focus, consultations, and negotiations. Therefore, Trump’s regime alone cannot manage all these, and therefore, world leaders need to negotiate more.