#Trump's Inauguration, Cryptocurrency Policy May Be in Flux#
Hot Topic Overview
Overview
Despite Trump's imminent inauguration, significant changes to cryptocurrency policy are unlikely in the short term. Greg Cipolaro, global head of research at NYDIG, points out that the new administration will need time to appoint key officials, complete confirmation processes, and build a team. Furthermore, key crypto legislation, such as the FIT21 Act and stablecoin legislation, is likely to take even longer to pass, as conservative and free-market lawmakers may be less willing to compromise. Therefore, although Trump expressed a positive attitude towards cryptocurrency during his campaign, the actual implementation of his policies will take time, and other more pressing issues, such as geopolitical conflicts, budgets, and debt ceilings, may take precedence over cryptocurrency policy.
Ace Hot Topic Analysis
Analysis
While Trump is set to take office on January 20, NYDIG Global Head of Research Greg Cipolaro believes that cryptocurrency policy is not likely to change immediately. He points out that the new administration will need to appoint key officials, who will then need to go through a confirmation process, and then assemble staff. Additionally, some important crypto legislation, such as the FIT21 bill passed by the House last May and stablecoin legislation, could take longer to pass, as conservative and free market legislatures might be less willing to compromise. Cipolaro believes that these initiatives might be placed behind other more pressing matters, such as geopolitical conflict, budget and debt ceiling, global trade and tariffs, and immigration.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump's inauguration will not immediately result in a change in cryptocurrency policy, and it will take some time to see concrete measures.
The new administration needs to appoint key officials, and they need to go through a confirmation process, which takes time.
Cryptocurrency legislation will take time to pass, as conservative and free-market lawmakers may be reluctant to compromise.
Other important issues, such as geopolitical conflicts, budget and debt ceiling, global trade and tariffs, and immigration, may be more prioritized than cryptocurrency policy.