Trump's crypto plans - the news of the past 24 hours

After several days of expectations and speculation following Donald Trump's inauguration, the new administration has delivered a series of major initiatives in cryptocurrency and artificial intelligence (AI). Kaupr will update you on the news picture over the last 24 hours.

Trump's crypto plans - the news of the past 24 hours

These announcements, framed by Donald Trump's speech at the World Economic Forum (WEF) in Davos about making the United States a global leader in crypto and AI, mark a significant policy shift. Below, we summarize the latest updates, including presidential orders, regulatory appointments and new initiatives, and explore their importance to the U.S. and global markets.

Presidential order on cryptocurrency

On Thursday, President Trump signed a presidential executive order titled “Strengthening American Leadership in Digital Financial Technology.” The directive emphasizes promoting innovation in digital assets. The main points include:

  • “Digital asset stockpile”: The administration will consider creating a strategic repository of digital assets. This initiative aims to position Bitcoin and other cryptocurrencies as a national currency reserve without making immediate government purchases.
  • “President's Working Group on Digital Asset Markets"”. This working group, led by David Sacks, will develop a comprehensive regulatory framework for digital assets, including stablecoins. The group will coordinate with key authorities such as the SEC and the Treasury Department to ensure a holistic policy.
  • Prohibition of CBDCs: Federal agencies are prohibited from promoting or developing CBDC initiatives, also called digital central bank currencies.
  • Repealing SAB 121: The Trump administration has removed a controversial provision that has prevented US banks from holding cryptocurrency for their clients, also referred to as custodial services.

Changes in regulatory leadership positions

Trump has made key appointments in regulatory bodies that oversee cryptocurrency:

  • Mark Uyeda as interim SEC chair: Uyeda is expected to prioritize clarity over enforcement while awaiting Senate confirmation of Paul Atkins as permanent chair.
  • Caroline Pham as Interim CFTC Chair: Pham is known for having a positive attitude towards crypto and regulatory sandboxes, where to test out new crypto services.
  • Scott Bessent as Treasury Secretary: Besset is a hedge fund manager who is pro crypto. Bessent's appointment signals a pivot toward policies that embrace digital assets.

SEC's Crypto Working Group: “Crypto 2.0"

Earlier in the week, on Tuesday, January 21, 2025, Acting SEC Chairman Mark Uyeda announced the creation of a Crypto 2.0 Task Force. The task force is led by Commissioner Hester Peirce, also known as “Crypto Mom.” The task force's mission is to “work with the SEC's employees and the public to put the SEC on a sensible regulatory path that respects the limits of the law.” The objectives of the working group include:

  • Drawing clear regulatory boundaries for digital assets.
  • Providing structured pathways for crypto companies to register with the SEC.
  • To design frameworks to protect investors while promoting innovation.
  • To use enforcement resources wisely, and move away from reactive regulation through enforcement.

The task force will coordinate with other federal bodies such as the Commodity Futures Trading Commission (CFTC), state regulators and international partners to create consistent oversight across jurisdictions.

This initiative marks a clear break with former leader Gary Gensler's approach, which used isolated disputes and the judicial apparatus to enforce and interpret crypto legally, rather than go the legal route.

Stargate: $500 billion in AI infrastructure

Earlier in the week, too Stargate, an ambitious AI infrastructure project, was presented. Stargate will invest $500 billion over four years to position the United States as a global leader in artificial intelligence development. Over the next four years, the company will build new infrastructure for AI in the United States. OpenAI has the operational responsibility, but a number of companies are involved, both with capital and technology.

Trump's Davos speech: 'Global Leadership'

In his speech at the WEF on Thursday 23. In January, Trump laid out an ambitious vision of U.S. leadership in crypto and AI. The main points include:

  • AI investments: Stargate's $500 billion initiative was highlighted as central to building AI infrastructure while reducing regulatory barriers.
  • Energy expansion: Trump declared a “national energy crisis” to lower the cost of industries such as crypto mining through expanded fossil energy projects.
  • Foreign investment: Saudi Arabia pledged up to $1 trillion in U.S. technology investment, further bolstering the prospects of innovation.

Reactions from the industry

The crypto community has responded positively to these developments, but remains cautious:

  • Pro crypto signals: The presidential order and the Crypto 2.0 Task Force are seen as steps toward making digital assets “mainstream,” using clear regulations and government support.
  • Market reactions: Bitcoin soared to $108,000 last week, during the presidential shift in the United States and amid speculation of a more crypto-friendly policy. But Bitcoin was also down around $100,000 this week, due to speculation, uncertainty and a lack of news. Friday morning Norwegian time, the Bitcoin exchange rate is around 105,000 USD.

Many are still skeptical, both in terms of what the changes will mean in practice, how quickly new legal provisions can come into place, as well as potential conflicts between different federal agencies over who should have responsibility for what when it comes to regulating digital assets.

Clear shift

Although “things take time” and there are uncertainties both regarding what will be the final legal framework and what the content of the “Digital asset stockpile” will be, there is no doubt that there has been a shift towards a more pro crypto policy in the United States.

Disclaimer:

This article has been researched and prepared in several ways: using the author's knowledge, overview and narrative ability, via good old-fashioned search, using an analytic-based human-to-agent dialogue and through a personal quality assurance of content and sources.

Trump's crypto plans - the news of the past 24 hours

After several days of expectations and speculation following Donald Trump's inauguration, the new administration has delivered a series of major initiatives in cryptocurrency and artificial intelligence (AI). Kaupr will update you on the news picture over the last 24 hours.

These announcements, framed by Donald Trump's speech at the World Economic Forum (WEF) in Davos about making the United States a global leader in crypto and AI, mark a significant policy shift. Below, we summarize the latest updates, including presidential orders, regulatory appointments and new initiatives, and explore their importance to the U.S. and global markets.

Presidential order on cryptocurrency

On Thursday, President Trump signed a presidential executive order titled “Strengthening American Leadership in Digital Financial Technology.” The directive emphasizes promoting innovation in digital assets. The main points include:

  • “Digital asset stockpile”: The administration will consider creating a strategic repository of digital assets. This initiative aims to position Bitcoin and other cryptocurrencies as a national currency reserve without making immediate government purchases.
  • “President's Working Group on Digital Asset Markets"”. This working group, led by David Sacks, will develop a comprehensive regulatory framework for digital assets, including stablecoins. The group will coordinate with key authorities such as the SEC and the Treasury Department to ensure a holistic policy.
  • Prohibition of CBDCs: Federal agencies are prohibited from promoting or developing CBDC initiatives, also called digital central bank currencies.
  • Repealing SAB 121: The Trump administration has removed a controversial provision that has prevented US banks from holding cryptocurrency for their clients, also referred to as custodial services.

Changes in regulatory leadership positions

Trump has made key appointments in regulatory bodies that oversee cryptocurrency:

  • Mark Uyeda as interim SEC chair: Uyeda is expected to prioritize clarity over enforcement while awaiting Senate confirmation of Paul Atkins as permanent chair.
  • Caroline Pham as Interim CFTC Chair: Pham is known for having a positive attitude towards crypto and regulatory sandboxes, where to test out new crypto services.
  • Scott Bessent as Treasury Secretary: Besset is a hedge fund manager who is pro crypto. Bessent's appointment signals a pivot toward policies that embrace digital assets.

SEC's Crypto Working Group: “Crypto 2.0"

Earlier in the week, on Tuesday, January 21, 2025, Acting SEC Chairman Mark Uyeda announced the creation of a Crypto 2.0 Task Force. The task force is led by Commissioner Hester Peirce, also known as “Crypto Mom.” The task force's mission is to “work with the SEC's employees and the public to put the SEC on a sensible regulatory path that respects the limits of the law.” The objectives of the working group include:

  • Drawing clear regulatory boundaries for digital assets.
  • Providing structured pathways for crypto companies to register with the SEC.
  • To design frameworks to protect investors while promoting innovation.
  • To use enforcement resources wisely, and move away from reactive regulation through enforcement.

The task force will coordinate with other federal bodies such as the Commodity Futures Trading Commission (CFTC), state regulators and international partners to create consistent oversight across jurisdictions.

This initiative marks a clear break with former leader Gary Gensler's approach, which used isolated disputes and the judicial apparatus to enforce and interpret crypto legally, rather than go the legal route.

Stargate: $500 billion in AI infrastructure

Earlier in the week, too Stargate, an ambitious AI infrastructure project, was presented. Stargate will invest $500 billion over four years to position the United States as a global leader in artificial intelligence development. Over the next four years, the company will build new infrastructure for AI in the United States. OpenAI has the operational responsibility, but a number of companies are involved, both with capital and technology.

Trump's Davos speech: 'Global Leadership'

In his speech at the WEF on Thursday 23. In January, Trump laid out an ambitious vision of U.S. leadership in crypto and AI. The main points include:

  • AI investments: Stargate's $500 billion initiative was highlighted as central to building AI infrastructure while reducing regulatory barriers.
  • Energy expansion: Trump declared a “national energy crisis” to lower the cost of industries such as crypto mining through expanded fossil energy projects.
  • Foreign investment: Saudi Arabia pledged up to $1 trillion in U.S. technology investment, further bolstering the prospects of innovation.

Reactions from the industry

The crypto community has responded positively to these developments, but remains cautious:

  • Pro crypto signals: The presidential order and the Crypto 2.0 Task Force are seen as steps toward making digital assets “mainstream,” using clear regulations and government support.
  • Market reactions: Bitcoin soared to $108,000 last week, during the presidential shift in the United States and amid speculation of a more crypto-friendly policy. But Bitcoin was also down around $100,000 this week, due to speculation, uncertainty and a lack of news. Friday morning Norwegian time, the Bitcoin exchange rate is around 105,000 USD.

Many are still skeptical, both in terms of what the changes will mean in practice, how quickly new legal provisions can come into place, as well as potential conflicts between different federal agencies over who should have responsibility for what when it comes to regulating digital assets.

Clear shift

Although “things take time” and there are uncertainties both regarding what will be the final legal framework and what the content of the “Digital asset stockpile” will be, there is no doubt that there has been a shift towards a more pro crypto policy in the United States.

Disclaimer:

This article has been researched and prepared in several ways: using the author's knowledge, overview and narrative ability, via good old-fashioned search, using an analytic-based human-to-agent dialogue and through a personal quality assurance of content and sources.