Trump Signs Executive Order on Cryptocurrency Regulations and Policies
Overview of Recent U.S. Crypto Policy Changes
President Donald Trump has enacted several significant changes in U.S. cryptocurrency policy following his inauguration:
- Trump signed an executive order addressing crypto regulations.
- A working group led by David Sacks will evaluate current regulations and assess a digital asset stockpile.
- The order bans central bank digital currencies (CBDCs) and revokes Biden's previous crypto executive order.
- The SEC formed a new crypto task force under Acting Chair Mark Uyeda, rescinding Staff Accounting Bulletin 121, which affected how companies report crypto holdings.
- The CFTC is now led by Acting Chair Caroline Pham, who appointed Harry Jung for crypto engagement.
- Trump pardoned Silk Road founder Ross Ulbricht, citing support from the Libertarian Movement.
- Trump announced changes to the U.S. Digital Service, now called the Department of Government Efficiency, which Elon Musk oversees.
- Senate Banking Committee created a subcommittee focused on digital assets, led by Sen. Cynthia Lummis.
- Sen. Ted Cruz introduced a resolution to overturn recent IRS rules on crypto brokers, facing legal challenges from industry groups.
- The House Oversight Committee is investigating whether banks have de-banked crypto firms at the government's request.
Additional News Highlights
- Coinbase requests court ruling that on-platform trades are not securities.
- Ethereum core developer Eric Conner departs amid internal disagreements.
- Propy introduces crypto-backed loans for real estate purchases.
This Week's Key Events
Tuesday: The 10th Circuit Court of Appeals will hear arguments in Custodia Bank's case against the Federal Reserve at 16:00 UTC.