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Crypto

Absence of Trump Crypto Order Amps Industry Tension as He Fails to Mention in Speech

By admin
0 27

Absence of Trump Crypto Order Amps Industry Tension as He Fails to Mention in Speech

The crypto industry is desperate to see crypto action from U.S. President Donald Trump, now a few days into his new presidency, but there hasn’t yet been a confirmation from the White House that an executive order is pending.

It’s not entirely off of Trump’s radar, though, because he did mention the crypto industry in his address on Thursday to the World Economic Forum, saying that an increase in domestic oil and gas production will secure U.S. manufacturing dominance and make it “the world capital of artificial intelligence and crypto.”

Still, he spent much more of the speech talking about U.S. AI commitments and didn’t mention digital assets again.

The sector will likely be watching closely at 2:30 p.m. Eastern on Thursday, when Trump is again scheduled to sign executive orders. The White House has already issued an extensive array of such orders. While they don’t carry the weight of law, such directives can steer the federal government’s priorities.

Trump is also scheduled to speak with crypto-friendly El Salvador President Nayib Bukele at 3:30 p.m., news which sparked another rally in Bitcoin’s price.

In other corners of the federal government, the Senate Banking Committee established its first digital assets subcommittee on Thursday, with Wyoming Republican Cynthia Lummis running it alongside other crypto-friendly lawmakers. And the Securities and Exchange Commission, newly led by Republican Mark Uyeda, announced a crypto task force this week.

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