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The Trump administration has made a significant overhaul of U.S. cryptocurrency regulations in the first 30 days since taking office. The dramatic shift in policy has led to increased institutional adoption and global market adaptation.
In its opening salvo, the administration launched multiple initiatives that reshaped the federal government’s stance on digital assets. On inauguration day, President Trump released a memosphere-backed token as part of his rebranding efforts, which also included a promise to support the growth of decentralized finance (DeFi) and non-fungible tokens (NFTs).
Furthermore, the administration took the unprecedented step of removing Rohit Chopra as head of the Consumer Financial Protection Bureau. The removal of Chopra, who was known for his anti-crypto stance, has sent a clear signal to the market that the administration is serious about embracing digital assets.
Other notable changes include the nomination of Brian Quintenz, a former commissioner with crypto industry experience, to take over as the new Chair of the Commodity Futures Trading Commission (CFTC). This move is seen as a significant step towards normalizing cryptocurrency regulation and paving the way for more comprehensive oversight.
Additionally, the administration has taken steps to address the issue of stablecoin issuance. The proposed legislation seeks to bring the industry “onshore” to the United States by providing a clear regulatory framework for these assets.
The impact of these policy shifts is being felt globally. According to Bitpanda CEO Eric Demuth, markets are now forced to adapt to the new environment, with institutional investors making long-term commitments rather than speculative trades.
Source: blockonomi.com
