Anticipations of Trump's Inauguration: Will He Deliver on Promised Cryptocurrency Policies?

As Donald Trump is set to officially take office as President of the United States on January 20, 2025, global attention is focused on how this unconventional political figure will fulfill his campaign promises regarding the top ten new policies for cryptocurrencies.

To welcome the upcoming inauguration of Donald Trump as President of the United States on January 20, MetaEra has launched a “Trump Inauguration” feature, which will provide comprehensive coverage of the 47th President of the United States’ inauguration ceremony.

The grand inauguration ceremony held by Trump in Washington D.C. marks the beginning of a new era, not only for American citizens but also for international investors and tech community members who closely monitor changes in U.S. policy. This ceremony is not just a celebration but also a signal—it heralds a series of forthcoming reform measures, especially aimed at the emerging cryptocurrency industry.With President Trump officially taking office on January 20, 2025, global attention is focused on how the unconventional politician will deliver on the top ten cryptocurrency new deals he promised during his campaign.

The primary ten cryptocurrency initiatives proposed include:

●Making the United States the global hub for cryptocurrencies

Trump commits to making the U.S. the epicenter for global cryptocurrency activities and supporting the advancement of emerging sectors like cryptocurrencies and artificial intelligence if he is re-elected.

●Ceasing the crackdown on the cryptocurrency sector within an hour of office

He vows to halt what he describes as the current government’s “illegal crackdown” on the cryptocurrency sector, ensuring the protection of rights associated with Bitcoin mining and trading.

●Halting further development of U.S. CBDCs

Trump is against the U.S. government’s additional development of Central Bank Digital Currencies (CBDCs), believing it would impinge on personal freedoms.

●Creating a strategic Bitcoin reserve

Trump intends to establish a national reserve of Bitcoin, positioning it as a strategic American asset.

●Firing SEC Chairman Gary Gensler

He indicates that he would immediately fire the current SEC chairman to reduce regulatory pressures on the cryptocurrency industry upon election.

●Preventing the sale of U.S.-held Bitcoin

He pledges to retain the Bitcoin owned by the U.S. government, ensuring these assets continue to benefit the country.

●Using cryptocurrencies to address the U.S. debt issue

Trump proposes leveraging cryptocurrencies to address the U.S. debt crisis, presenting it as a novel solution.

●Introducing comprehensive cryptocurrency regulations

He aims to introduce an extensive set of cryptocurrency regulations addressing stablecoin oversight and rights for user self-custody.

●Forming a cryptocurrency advisory committee

Trump plans to create a specialized advisory committee to establish clear regulatory guidelines to foster the growth of the cryptocurrency sector.

●Reducing the sentence of Ross Ulbricht, founder of Silk Road

He commits to considering a reduction in the prison sentence for Ulbricht, convicted in the Silk Road case.

Difficulty and impact of the implementation of the top ten new policies

Among the ten major cryptocurrency policies, the most difficult to implement include transforming the United States into the global capital for cryptocurrencies and ceasing the crackdown on the crypto industry immediately upon taking office. Turning the U.S. into a global hub for cryptocurrencies isn’t just a catchy phrase for Trump; it involves challenging traditional financial systems and global economic norms. Establishing a crypto-friendly business and talent environment requires comprehensive reforms, including tax incentives and streamlined regulations, making it a hefty task for Trump.

The promise to stop the crackdown on the cryptocurrency industry within an hour of taking office may appear more like a populist pledge aimed at securing more votes from the crypto community. If we disregard the one-hour timeframe, Trump’s intentions to appoint a new SEC chairman and ease administrative oversight could indeed be swiftly executed.

The simplest action to execute would be reducing Ross Ulbricht’s sentence, the founder of Silk Road. Using presidential pardons and policy commitments, Trump could easily fulfill this promise, which would significantly underscore the libertarian values held by the crypto community and draw broader attention to the cryptocurrency sector.

Moreover, firing the SEC chairman would mean a shift in the regulatory leadership, potentially fostering a more innovation-friendly environment. The proposal to establish a strategic Bitcoin reserve, if realized, would be a groundbreaking step, showcasing the government’s readiness to engage directly in the digital asset market.

New expectations for Trump’s inauguration

While details remain unclear, Trump’s inauguration is expected to boost the prices of Bitcoin and other mainstream cryptocurrencies in the short term. However, their long-term performance will depend on how effectively the new policies are implemented and overall market confidence.

In the next four years, we are poised to see significant transformations in the cryptocurrency ecosystem, both in the U.S. and internationally. This period promises to be both thrilling and challenging for all stakeholders in this industry.

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