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.