#Trump’s Crypto Promises May Take Time#
Hot Topic Overview
Overview
With the inauguration of the new president looming, policy changes regarding cryptocurrencies promised during the campaign may take some time to materialize. NYDIG Global Head of Research Greg Cipolaro said the new administration needs to appoint key officials and go through the confirmation process before staffing up. Moreover, important crypto legislation like the FIT21 Act and stablecoin legislation may also take longer to pass, as conservative and free-market lawmakers may be less willing to compromise. Cipolaro believes geopolitical conflicts, the budget and debt ceiling, global trade and tariffs, and immigration issues may be more pressing concerns.
Ace Hot Topic Analysis
Analysis
With just a week left before Trump's inauguration, there is widespread expectation that his campaign promises on cryptocurrency policy will be swiftly implemented. However, Greg Cipolaro, global head of research at NYDIG, points out in a research report that delivering on cryptocurrency pledges may take some time. He believes that the new administration needs to appoint key officials, who then need to be confirmed, after which they need to assemble teams, all of which takes time. Additionally, some important crypto legislation, such as the FIT21 bill and stablecoin legislation, may take even longer to pass, as conservative and free market legislative bodies may be less willing to compromise on certain issues. Cipolaro believes that issues such as geopolitical conflict, budget and debt ceiling, global trade and tariffs, and immigration may be more pressing than cryptocurrency policy, so the implementation of cryptocurrency policy may need to take a backseat.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
After Trump's inauguration, cryptocurrency policy may not change immediately, and it may take some time to see specific measures.
The new government needs to appoint key officials and go through a confirmation process before it can begin to formulate and implement cryptocurrency policy.
Some important cryptocurrency legislation, such as the FIT21 Act and the stablecoin legislation, may take longer to pass, as conservative and free market lawmakers may be less willing to compromise.
Other pressing political issues, such as geopolitical conflicts, budgets and debt ceilings, global trade and tariffs, and immigration, may take precedence over cryptocurrency policy.