Trump Administration Takes Steps to Reshape U.S. Cryptocurrency Landscape with SEC Task Force and Executive Order

Jan 26, 2025, 05:33 PM

In his first week in office, President Donald Trump has taken significant steps towards reshaping the cryptocurrency landscape in the U.S. On his second day, the Securities and Exchange Commission (SEC) announced the formation of a new cryptocurrency task force, aimed at developing a regulatory framework for digital assets. This move was followed by Trump signing an executive order to promote the advancement of cryptocurrencies, including the establishment of a working group on digital assets. The working group's tasks include proposing criteria for a national crypto reserve and drafting a new regulatory framework for crypto operations. The crypto industry has responded positively, with Bitcoin prices hitting a new record above $109,350 on Monday before settling around $105,000 by Friday. The executive order and the SEC's task force are seen as steps towards a more favorable regulatory environment for cryptocurrencies, with industry experts anticipating further legislative action.