As former U.S. President Donald Trump shows signs of shifting virtual assets from an 'oppressed industry' to the 'center of national strategy', the U.S. virtual asset industry is welcoming it greatly. The Crypto Summit held at the White House and the executive order to establish a BTC holding are evaluated as substantial measures showing Trump's will to prioritize virtual asset policies.
Chris Marszalek, CEO of Crypto.com, said through his X (formerly Twitter) on the 8th (local time) that it was a "truly historic day at the White House." After attending the Crypto Summit hosted by President Trump, Marszalek CEO expressed hope that "continuous dialogue with major regulatory agencies such as the CFTC and SEC could lead to the passage of groundbreaking legislation." Crypto.com is the 13th largest virtual asset exchange in the world based on CoinMarketCap.
This Crypto Summit was held while the Stablecoin Bill and the Market Structure Bill are awaiting approval in the U.S. Congress. The Market Structure Bill is expected to be enacted based on the 'FIT21' bill that passed the House of Representatives last May. This bill included the definition of digital assets and the designation of regulatory supervisory agencies.
Marszalek CEO emphasized that "the impact of this regulatory framework will extend globally" and "it will provide the foundation needed to move overseas activities to domestic, and off-chain activities to on-chain." This suggests that when clear regulations are in place, virtual asset companies that have gone overseas will return to the U.S., and a paradigm shift will occur where transactions in traditional finance will move to the blockchain.
Coinbase, the largest virtual asset exchange in the U.S., also welcomes this policy change. Brian Armstrong, CEO of Coinbase, said he would add 1,000 more employees in the U.S. this year. He told CoinDesk that "he gained confidence in investing and growing his business in the U.S. within 50 days of Trump's inauguration."
The recent decision by the SEC to drop its regulatory violation charges against Coinbase is also a positive signal. Coinbase has been engaged in legal disputes with federal courts over the jurisdiction of digital asset regulations. Now, this issue is expected to be established by law in Congress rather than by court rulings. The industry expects to be able to conduct business in a more clear regulatory environment through comprehensive legislation by Congress rather than individual court rulings.
CEO Armstrong actively supported President Trump's executive order to establish a BTC holding. He said, "There is no better holder of BTC than the U.S. government" and "BTC is becoming the core of the financial system and will be part of any diversified portfolio."
According to the executive order signed by President Trump on the 7th, the BTC holding is expected to be composed of virtual assets confiscated in government criminal cases. Bo Hines, Secretary-General of the President's Digital Asset Working Group, also said that active BTC purchases are being explored. Hines said that the Secretaries of the Treasury and Commerce are exploring ways to purchase BTC without burdening taxpayers, and both secretaries are actively pursuing this.
Industry experts evaluated the U.S. BTC holding plan as an important turning point in the integration of virtual assets into the global financial system. Joe Burnett, Head of Market Research at Unchain, said, "The U.S. has taken the first concrete step in integrating BTC into the global financial structure, and has acknowledged that BTC can serve as the base asset of a more stable and sound monetary system."
- Reporter Yeri Do
- yeri.do@sedaily.com
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