Disclosure: The views and opinions described here belong only to the author and does not express Crypto.news editorial views and opinions.
On July 27, 2024, Donald Trump stood in front of the Nashville crowd and accurately reported what they wanted to hear. At the Bitcoin 2024 conference, he promised that if he was elected, the United States would be the “virtual currency capital of the earth” and the SEC chairman Gary Gensler was immediately dismissed.
The appearance combined with the movement of other cryptocurrency promotion, combining a larger voting group than some people evaluated. The Camala Harris camp then tried to respond to them with a thin message, but almost did not succeed. Trump was a “virtual currency candidate” without doubt.
As a result, when he did not mention a word about blockchain and cryptocurrency in his Monday’s inauguration speech, he was naturally anxious. I was also looking forward to hearing more about his plan about blockchain technology. But what I always remember is another word he told to Nashville last year.
“Remarks will be set up in the future, but the rules will be written by people who love the industry, not the people who hate the industry in the future.”
Regardless of what he said (or did not say) at the inauguration ceremony, the promise has already been proved to be true. His appointment, nomination, and actions all suggest that common sense regulations are approaching. His “Golden Age” in the United States may include blockchain technology, or it may be moved.
People who love our industry
Not all people involved in cryptocurrencies have the opportunity to negotiate with the policy proprietor. Fortunately, I was able to attend some of these conversations for many years, but as I said, the former administration was impossible to discuss.
Basically, it hindered in all situations, and even innovative solutions were drawn in the same brush. The leaders in the industry were extremely dissatisfied, and stopped moving their business to another place or at least to ask questions. Despite the fact that some of the members were seeking transformation inside, that did not happen.
So the industry waited. He was waiting for Mr. Trump to steadily increase the support of Trump during the virtual currency community, just because Trump promised not to get in the way. When he won the re -election, they cheered (in some cases quietly). That was because they could follow their ambitions again. They were able to build what they had dreamed of.
A few months since then, the next administration has strengthened its trust and support. Just a few weeks of the election, Trump nominated Howard Ratonic, the leader of Stable Coin’s large supporters and securities company Canta Fitzgerald.
Paul Atkins, a CEO of cryptocurrency and CEO of Patomax Partners, was selected as a SEC Gensler. In early December, David Sax joined the White House as Trump’s “AI and cryptocurrency emperor”. As a former executive of PayPal, he has been promoting the realization of “new world currency” for decades, and sincerely believes in Web3 technology.
They are those who love our industry. They are people who do not disturb innovation or create rules that surround us.
Not everything that shines is money
Not only investment but also its innovation will decide whether President Trump will realize the Golden Age in the United States.
The solution we currently have is limited, and it is still necessary to be widely adopted by companies. Let’s consider Stable Coin as an example. Theoretically, these are perfect answers for transactions, financial management, and trade finance, but financial institutions still hesitate to integrate them.
Part of the problem is its unique anonymity and what it means for a regulatory organization. The chains they exist are built to compete with centralized banks, and the contract built on it is merely a first aid.
Providing the responsibility and compliance necessary to meet the regulation requirements and the trust of the user requires a protocol -level identification layer as in Concordium.
When this is introduced, the US dollar backed stable coin, built based on a highly transparent and reliable chain, will further strengthen US dollar dominance and eliminate the need for CBDC. President Trump’s cryptocurrency promoter, Scott Bessent, said at a recent hearing of the Senate approval. Bessent explained in his opinion that it was exclusively for developing countries, and denied that the United States would introduce CBDC.
2025 approach
Like many colleagues in the Trump administration, Bessent is focusing on innovative policies for innovative technology. When asked about the dark history of cryptocurrencies, he only needed a 2025 approach.
Listen, listen, and say the encryption industry. We’ve been trapped in a 20th -century policy loop for so long. In any case, the change is coming, and the United States seems to be ready to take the lead. If they do not take their own path, President Trump’s “Golden Age” will lead to cryptocurrency, blockchain, and web3 revolution.
