Main to remember
- US President Donald Trump signed a decree on Thursday to establish the domination of the United States in digital assets and financial technology.
- While partially offering a campaign promise to create a Bitcoin stock, the formulation of the decree creates a certain confusion as to whether it is possible.
- The executive decree promises regulatory clarity and some of these changes are already beginning to occur.
- The SEC has returned a controversial accounting rule that has effectively prevented traditional financial companies from acting as a goalkeeper for Bitcoin.
President Donald Trump signed an executive decree this week to establish American domination in the digital asset market and make the country the World Crypto Center. But does this order give what Trump said he would accomplish?
One of Trump’s promises to cryptographic industry was the creation of a “stock of strategic national bitcoin”. Although the cryptographic industry is generally enthusiastic about the idea that the order ensures legal protections for crypto users and the promise of greater regulatory clarity, some are worried about a perceived pivot of the final establishment a stock of national bitcoin.
Bitcoin (BTCUSD) sold slightly after the announcement on Thursday, although it was recovered and negotiated nearly $ 105,000 in negotiations at the end of Friday.
Confusion around “storage of national digital assets”
The decree has created a working group to offer a regulatory clarity on a number of questions, including “the potential creation and maintenance of a stock of national digital assets”.
This phrasing creates a certain confusion. First, the decree simply examines the exploration of a “potential” stock. Second, the language of the decree is not specific to Bitcoin and rather refers to a stock of “digital assets”.
It also mentions the possibility that this stock will be derived from the existing cryptography assets of the government according to which it has accumulated from various application actions instead of negotiating cryptocurrencies such as the government for the strategic oil reserve.
“” Stockpile “is a jargon which means to hold what they have, but not necessarily anything,” published the digital research manager of Galaxy Alex Thorn. According to data shared by Thorn in its X Post, the stock would largely be made up of Bitcoin rather than alternative digital goods.
Others fear that the path of creating a stock of bitcoin will not be entirely without howl.
“As I said, we will need legislation for a” real “(Bitcoin strategic reserve), and that will not go,” said Nic Carter, partner of Castle Island Ventures.
Despite the decree, the chances of a Bitcoin strategic reserve occurs in the United States this year went from a peak of 76% to 61% during the last day, according to the Polymarket prediction market.
Protections for crypto users and regulatory clarity
That said, there is much more for the cryptography industry in the decree.
“The president’s OE today consists mainly of implementing the right processes and good teams to improve cryptography policy,” published the Executive Director of Coin Center on Thursday, Peter Van Valkenburgh.
The cryptographic industry has often criticized the lack of clarity on regulations as well as the approach focused on the application of the law by the American commission for securities and exchange. Some of their grievances may have already started to repair themselves.
For example, after the signing of the executive decree, the SEC canceled a disputed accounting rule called staff accounting bulletin n ° 121 (SAB 121) which actually made impractical for traditional banks to act as guards of Bitcoin.
“SAB 121 was disastrous for the banking industry, and only the delay in American innovation and the progress of digital assets”, American senator Cynthia Lummis, a republican of Wyoming, published on X.
