Trump’s cryptocurrency policy announcements are spurring optimism in the industry

The Trump administration’s announcements in its first official week are creating new opportunities for the cryptocurrency industry.

Following the launch of the Acting Chairman of the Securities and Exchange Commission, Mark Ueda, of Cryptography Task Force President Donald Trump signed on Tuesday Executive order Boosting Cryptocurrency Advancement in the U.S. Now, industry experts are weighing what this could mean for the future of national cryptocurrency stocks.

“We expect some type of legislation to move the strategy forward Bitcoin Matt Kaufman, head of ETFs at Calamos, told CNBC:Edge ETFs” this week.

The executive order signed by the president on Thursday called for the creation of a working group on digital assets, whose tasks include proposing standards for cryptocurrency reserves.

The working group will also draft a new regulatory framework for the operation of cryptocurrencies in the United States, according to the order. Mike Venuto, chief investment officer at Tidal Financial Group, expects the policy changes will ultimately be favorable for the industry.

“It’s been organized through execution,” Venuto said in the same interview. “And this is chaos.” “We need a competent group of government that can step in and organize this and make sense of it.”

Bitcoin prices Hit a new record On Monday amid industry euphoria, it topped $109,350 for the first time. As of Friday afternoon, the token was trading at around $105,000.

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