Upon his Inauguration, President Trump published a list of immediate priorities among Republican lawmakers; this document does not mention crypto.
Although he has already appointed several pro-industry finance regulators, the crypto community is still worried about whether the President will prove a reliable friend.
Trump Makes No Mention of Crypto During Inauguration
For the months leading up to his election and inauguration, the crypto community has considered President Trump its best friend for good regulation. Trump officially endorsed the industry at a Nashville-based conference in July and has since made many promises.
Many of the most influential figures in crypto have already been praising his impact.
“President Trump’s focus on crypto as a national priority is encouraging everyone to clearly define their views in a more productive way and to create plans that enable crypto adoption in new and exciting ways that our industry has never seen before,” Chainlink co-founder Sergey Nazarov said in an exclusive interview with BeInCrypto.
Nonetheless, a recent development has apparently thrown cold water on these political aspirations. Ahead of his Inauguration, Trump circulated a document among allied lawmakers discussing his top priorities.
Although it touches on several economic concerns, Trump did not say one word about the crypto industry.
Everyone is overreacting! I just listened to Trumps inauguration speech. He didn’t mention crypto, but what reason is there to mention it right now? Do none of you remember that a historic amount of pro-crypto members of congress were just elected On top of a pro-crypto SEC, and crypto czar. I just don’t understand why people are freaking out,” wrote popular influencer Borovik
This prominent crypto snub comes as a huge surprise, especially because Trump launched his own Solana-based meme coin. He even hosted a black-tie “Crypto Ball” event, bringing together many leading figures.
Notable crypto leaders, such as the Crypto.com CEO, were spotted at the inauguration. Nonetheless, his actual priorities apparently include issues like border immigration and “climate extremism,” but nothing about regulations in the crypto industry.
Granted, a few of Trump’s top-level priorities could benefit sectors of the crypto industry. He has a whole sub-section labeled “Make America Affordable and Energy-Dominant Again,” whose policies could help the electricity-intensive mining sector.
Still, he also pledged to cut wind-based electricity, which is an important source for some mining firms.
Ultimately, Trump has still given several concrete wins to the crypto community, particularly in appointing friendlier finance regulators. However, his snub here has left the community worrying whether he will continue this investment.
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