3 changes in the Bitcoin and encryption market during the first week of Trump in the Oval Office

President Donald Trump’s return to the Oval Office returned in a week of changes in the encrypted currency industry.

Bitcoin (btcusdPrices reached the highest new level ever Above 109,000 dollars Before Trump’s inauguration, as market monitors expected changes to the government’s position towards the encrypted currency. Since the oath has been sworn in, the White House has helped provide a clear path regarding the organization and stop the underlined legislators over the organization, which led to a pipeline of new products.

Here are some of the things that occurred in the encryption markets only last week in which Trump was in office.

The executive matter begins progress in encryption cases

During his first week in office, Trump addressed some of the promises he made to the Bitcoin and Crypto industry during his campaign.

He fell Executive On digital assets and financial technology, prepare a working group to examine the current encryption regulations and submit recommendations on the path forward, including the creation of Bitcoin strategic reserves.

Some people are concerned that although Trump took the first step, it was not all it was I promised. While Trump is originally Backed The creation of Bitcoin strategic stocks at the Bitcoin 2024 conference last year, the executive matter indicated that this operating group will simply explore a possible national stock of “digital assets”.

It also prevented the arrangement from creating a The digital currency of the Central Bank (CBDC).

SEC relieves the situation on encryption

the The American Securities and Stock Exchange CommitteeThe SEC (SEC) was previously enforced to the organization has been at odds with the encryption industry. However, Trump appears to change this.

Trump talked about the expulsion of then SEC president Gary Ginsner on the campaign’s path. However, Jinsler stepped down before Trump’s inauguration. Trump’s choice for Replace itPaul Atkins, was historically supportive of encryption.

While Atkins awaits the confirmation of Congress, the agency’s head of the Acting Agency, Mark Oida, A new encryption business squad created. The SEC Hester People, which has pushed more organizational clarity of the encryption industry and has published multiple opposition opinions on coding procedures during its period in the Supreme Education Council.

Also, as effective, SEC canceled the accounting bulletin No. 121 (SAB 121), an accounting base that prevented traditional banks and financial institutions from working as holders of encryption assets for their customers.

Crypting management pays new products to the market

The encryption industry benefits from softening the organizational position to launch new products.

Since the new administration took over, SEC has received more than 30 new requests related to Crypto ETFS.

While the exporters started with larger and more firmly encrypted works such as Litecoin, Solana and Ripple, it is clear that ETF exporters will test the extent to which the new SEC leadership allowed them to leave. According to the Bloomberg analyst, James Sevart, some of these applications are for the most dangerous products, such as Melania with 2x benefiting from Melania Mimi currency ETF.

In addition, Nasdak and others applied for the eyes of the eyes Bitcoin etfs spot Like Blackrock’s Ishares Bitcoin Trust (Ibit). This means that IBIT holders can recover their shares for the actual bitcoin; However, this activity will be limited to “accredited participants”, SEYFARFAR was published on X.