Will Trump Come to the Rescue of Cryptocurrencies: NYDIG Official Confused! - Coin Bulletin

Days before Donald Trump took office, the new administration's promise to make comprehensive changes to cryptocurrency regulations became a source of hope for investors.

However, according to Greg Cipolaro, Research Director at New York Digital Investment Group (NYDIG), the implementation of these changes may take time.

Priorities are being determined in the editing

In a research note dated January 10, Cipolaro said that the new administration is committed to implementing many campaign promises, but that some initiatives may take longer to implement:

Key position officials are still awaiting appointment and the appointed names need to complete the approval process. After this process is completed, teams will need to be formed.

Among the important regulations related to the cryptocurrency sector are the determination of rules for stabilcoins and clarifying the roles of securities and commodity regulators.

However, Cipolaro noted that the new conservative and free market-oriented legislature could be less compromising than previous administrations.

Priority Ordering Can Cause Delays

The Trump administration's crypto policies could be overshadowed by other major issues such as geopolitical conflicts, budget, debt ceiling, and immigration. Cipolaro said that such priorities could affect the pace of implementation of crypto regulations.

Strategic Bitcoin Reserve on the Agenda

It is stated that the Trump administration could quickly implement a plan to establish a strategic Bitcoin reserve. Cipolaro reported that such a decision could be made by presidential decree and that this draft decision was shared on social media by Bitcoin advocates.

However, he also emphasized that a presidential decree is not permanent and could be revoked by the next president.

Cipolaro mentioned that the $18.3 billion worth of Bitcoin held by the US government could be the source of this reserve:

This step may alleviate concerns that the US will become a Bitcoin seller, but it will not create additional demand.

High Expectations for the Crypto Sector

While the appointments made by the Treasury Department, SEC, and White House for digital asset advisory are welcomed positively by the crypto sector, the appointments for the CFTC and other important positions still remain uncertain.

Cipolaro, 'We are pleased with the appointments made to important institutions in the field of Crypto and Bitcoin so far,' he said.