Trump and Bitcoin Reserve: Did Expectations Fail? Investment Bank Commented - Coin Bulletin

Although the former US President Donald Trump administration took the first steps to support the crypto industry, meaningful regulatory clarity is not expected to come in the short term. According to investment bank TD Cowen, this process could take years.

Trump signed an executive order establishing the Digital Asset Market Working Group. The main task of this group is to identify and eliminate barriers to crypto innovations. However, Jaret Seiberg from TD Cowen's Washington Research Group emphasized that this move is still superficial.

Seiberg, who said 'Every president establishes commissions and working groups for important issues', noted that this was symbolically important but did not mean a change in regulations. 'It will take years, not weeks, to create the rules the sector needs,' he said.

Bitcoin Reserve Expectations Disappointed

Trump assigned the task of evaluating the creation and management of a national digital asset stock to the working group. However, expectations such as the establishment of a Bitcoin reserve were not included in this directive.

According to Seiberg, Trump's priority is still the US dollar. 'Trump's main goal is to maintain the US dollar as the global reserve currency. Countries turning to Bitcoin could jeopardize the dollar,' he said.

Last month, Seiberg expressed a similar view, emphasizing that the creation of Bitcoin reserves is not a priority for the Trump administration. "The idea that building Bitcoin reserves is compatible with U.S. efforts to protect its role in the global economy doesn't seem to be enough to convince Trump," he said.