Trump To Pass Pro Crypto Orders

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Trump To Pass Pro Crypto Orders

Trump To Pass Pro-Crypto Orders

According to media reports, Donald Trump is thinking about passing a number of pro-crypto orders. These will be aimed at lowering the regulatory requirements for the crypto firms.

The orders will also pave the way for widespread adoption of digital assets such as cryptocurrencies. If we look back, the crypto market rallied higher after Trump's win due to expectations like this.

Crypto Market To Receive A Boost

Now, it seems that Trump is actually thinking of using his executive powers to make things easy for the crypto market. In a sense, Trump is slowly becoming the crypto president!

Reports also suggest that Trump will make a crypto council, responsible for helping the government to make pro-crypto policies. The said council will have around 20 members who will help the federal government.

The use of an executive order to order the SEC to revoke the 2022 accounting guidance has also been explored by Trump's advisors. 'SAB 121' is another name for this guidance, which has made it prohibitively expensive for certain businesses to retain cryptocurrency on behalf of third parties.

Also, Operation Choke Point 2.0 will also be ended by Trump via an order. This is used by the bank regulators to make it difficult for the crypto firms to use the traditional financial system.

For now, its not clear if these changes will be made via an executive order or it will be passed by the elected members. In whatever way Trump achieves this, one thing is for sure... These measures will be helpful in pushing the crypto into the stream and will also send the markets to the roof.

This will also be at a 180 degree from the measures taken by the regulators under the Joe Biden era. Under the Biden's administration, several crypto firms were taken to the court and were fined in millions of dollars.

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