While Bitcoin broke an historic price record at the time of Donald Trump’s swearing-in, the mood quickly cooled.
Indeed, many decrees and announcements were made the following day but nothing about cryptocurrencies. The launch of a TRUMP and MELANIA token has also raised many questions in the community. The projects look like empty shells reinforcing the impression that the Trump family is using cryptocurrencies for their own benefit. What scared the purists of cryptocurrencies who are precisely trying to detach themselves from the centralization of traditional institutions.
However, the news for the ecosystem cannot be said to be bad. Indeed, the appointment of Stephen Miran as chief economist for Donald Trump remains an encouraging parameter. Former US Treasury advisor, the economist says he is pro-cryptocurrency and has publicly opposed the Federal Reserve policy in the past. Donald Trump has appointed former college football player Bo Hines as the new Crypto Council’s executive director. Hines is known to have favorable positions for ecosystem development. He received many crypto-currency funding during the elections.
Future legislation will certainly be very ecosystem friendly but things still seem to be in preparation. This could take longer than expected and spread over the entire duration of Donald Trump’s mandate.