Photography: Jim Watson/ French Press Agency (Getty Imaguz)
President Donald Trump signed a long -awaited agreement Executive Late Thursday, a working group on digital assets that will be responsible for offering possible regulations for the sector and evaluating the national stock of encrypted currencies.
This fulfills the promises that Trump made during his election campaign, starting with the creation of a law Bitcoin strategic reserves – It comes at a time when the president and his family enjoy profound relations and increasing personal financial interests in the encrypted currency industry.
The White House said that the matter aims to “provide organizational clarity and certainty based on neutral regulations technologically, frameworks that take into account emerging technologies, transparency of decision -making, and well -defined judicial regulatory borders.”
The group, headed by the private adviser to artificial intelligence and encrypted currencies, will have 30 days to determine all regulations, guidance documents, orders and other elements that affect the digital asset sector.
Within 60 days, the heads of nearly twelve federal agencies will have to make regulatory recommendations to the president. By the passage of 180 days, the working group must submit a report to the president that includes their policy suggestions, including the possibility of creating and maintaining a national stock of digital assets.
This process is expected to help generalize the cryptocurrency within the United States, as organizations have waited from the exchange platforms to traditional financial institutions for a long time with a more clear organization about the prosperous industry.
Bank of America (Pile“If the administration puts new rules, the banking industry will You become an active player In submitting encryption payments. Moinhan added that the second largest American bank is ready to enter this field when the time comes.
to talk On the plate In Davos, Queen Biz (currencyCEO Brian Armstrong said that the legislation in Congress will Bring new investments To encrypted currencies. Richard Teng, CEO of Binance, chanted these feelings, and expected that the cryptocurrency market will reach the highest new level ever this year thanks to the “most obvious organization” of the Trump administration.
Bitcoin, the largest coded currency in size, increased by approximately 4 % on Friday morning, at a value of $ 105,423 per piece.
The other main parts of the matter included the regression of the executive order issued during the Biden era, which encouraged the government to search and develop a digital currency for the Central Bank. Last year, Trump pledge To prohibit the development of such digital assets “to protect Americans from the tyranny of the government”.
The White House said that the central bank’s digital currencies “threaten the stability of the financial system, individual privacy and the sovereignty of the United States.”
In another step welcomed by the encrypted currency industry, the Securities and Exchange Committee announced late on Thursday that it had canceled the accounting guidance that requires companies that have digital assets on behalf of others that they calculate them as obligations. This made it more expensive for them to do so.
This came in the aftermath of the Securities and Exchange Commission The launch of the “encryption team” The agency said in a statement that it is charged with developing a “reasonable organizational path that respects the limits of the law.” press release. The delegated workplace will lead Hyster PeresNicknamed “Crypto Mom” after it split from the Securities and Exchange Commission to the Bitcoin Trading Fund.
This announcement, which was published for the first time under the chairmanship of the Acting Chairman Mark Oida, also criticized the previous measures taken by the Securities and Stock Exchange Commission under the leadership of President Gary Ginsner, a fierce critic of encrypted currencies and who resigned on Monday.
Jinsler, the Securities and Stock Exchange Committee, faced severe criticism from defenders of encrypted currencies because of their hard -line position on the industry. Under his leadership, the Securities and Exchange Commission assumed high -level issues against a number of senior encrypted currencies, such as Queen Piece and Pinns; 18% of the total complaints of the Securities and Stock Exchange Committee of Gensler was linked to encrypted currencies.
Oida, since 2022, has been delegated and his term ended in 2028 His name Acting Commissioner earlier on Tuesday. In November, when he was seen as a competitor to take the position of head of the Securities and Exchange Commission, he told Fox Business that “the war on cryptocurrencies launched by the Securities and Stock Exchange should end.”
If it is confirmed by the Senate, it will be replaced by the urine of Atkins, which Trump nominated to lead the Securities and Stock Exchange Committee. Atkins, the last appointed consultant to the Securities and Stock Exchange, under the management of George W. Bush, is a friendly face of the encrypted currency pressure group. He leads the digital room SymbolWhich calls for “best practices” in the cryptocurrency industry, and opposed the imposition of huge fines on companies that violate the stock law. The declared goal of the digital room is to “promote acceptance and use of digital assets” and Blockchain technology.
Atkins also expressed his support for dismantling Dod FrankWhich strengthened the federal regulatory authority in the wake of the catastrophic financial crisis in 2008.
William Javin contributed to writing this article.
