President Donald ***** closed his inaugural speech without even once mentioning Bitcoin (BTC) or crypto.
Meanwhile, Punchbowl News reported that a document sent by Republicans outlining the White House’s new priorities also fails to mention digital assets and Bitcoin.
The document does not reflect *****’s views on the crypto industry, such as creating a Bitcoin reserve to tackle inflation and fostering BTC mining in the country.
Additionally, it does not mention the creation of policies via Executive Orders. As recently reported, the US President said he intends to designate crypto as a national priority, establish a crypto advisory council, direct agencies to review digital asset policies, pause or halt litigation against crypto companies, and create a national Bitcoin stockpile.
Instead, *****’s priorities focus on border security, energy independence, government reform, and cultural issues. These include bold measures such as suspending refugee resettlement, withdrawing from the Paris Climate Accord, and enacting sweeping reforms to the federal bureaucracy.
While the document does not explicitly address crypto, it emphasizes policies like the “America First Trade Policy” and “empowering consumer choice,” which could indirectly impact the tech sector, including digital assets.
Despite not mentioning crypto, none of the 20 largest crypto by market cap posted losses on the hour following *****’s speech.
Nominations say otherwise
Leaving crypto out of two crucial political instances leaves enthusiasts questioning if ***** is to keep up with his promises.
Yet, his nominations have been pro-crypto so far. The new US Securities and Exchange Commission (SEC) chair, Paul Atkins, is a known innovation-friendly figure who has also been the co-chairman of the Digital Chamber’s Token Alliance since 2017.
Additionally, the new US administration created its first role in the White House, the “crypto czar,” which focuses on creating a regulatory framework for this industry. ***** chose David Sacks, former PayPal COO and tech venture capitalist, for the role.
Although the race for a new Commodity Futures Trading Commission (CFTC) chair is still ongoing, reports have cited pro-crypto figures Summer Mersinger, a current CFTC Commissioner, and Brian Quintenz, a16z crypto policy chief and former CFTC commissioner, as “odds-on front-runners” for the role.
Meanwhile, Caroline Pham, who also advocated for a comprehensive regulatory sandbox to foster crypto and tokenization growth in the US, was nominated as acting CFTC chair.
Furthermore, on-chain data revealed that ***** family-backed money market World Liberty Financial bought $47 million worth of Bitcoin on Jan. 20. Despite not mentioning crypto upfront on his first day in office, President Donald ***** has been making moves suggesting a positive stance toward this industry.
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