As Donald Trump officially became the 47th president of the United States, the US government is going in a different direction from the last administration.
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Narrative
US President Donald Trump took the inauguration on Monday and quickly signed an administrative order. It took a few days to get a cryptocurrency -related item, but we had already seen a lot of measures from his administration as well as Republican Party.
Why is it important?
The initial measures of these institutions and parliamentary institutions set the atmosphere we can expect when the new parliament and the administration are actually promoted this year.
Disassemble it
Later, some of them may be more time to explain in more detail, but now, as follows.
White House/Administration
Donald Trump has signed an executive order related to cryptocurrency, which was expected. This provision has the following items:
- Create a practical group of other experts who are in charge of other tasks to identify Cabinet management, the White House advisor and cryptocurrency. AI and cryptocurrency emperor David Sacks will be chairman of this working group.
- We will leave the working group to evaluate digital asset inventory.
- Somewhat extensive definition of CBDC prohibits central bank digital currency.
- We cancel the executive order of former President Joe Biden for the cryptocurrency instructed to his department to write a report on various aspects of cryptocurrency and consumer protection.
Trump also announced that Sax will be co -chairman of the Presidential Science and Technology Advisory Committee.
The US Securities and Exchange Commission (SEC), currently operated by Chairman of Mark Uyeda, has formed a cryptocurrency specialized task force led by the Hester Peirce Commissioner. President Trump has nominated Paul Atkins as a candidate for the director after being approved by the Senate.
One of the first measures of the SEC was to abolish the Staff Accounting Bulletin 121, which indicates that a public trading company that holds cryptocurrency for customers indicates its own assets in its own balance sheet. SAB 121 strongly opposed the cryptocurrency industry, claiming that it made banks more difficult to provide specific cryptocurrency services.
The Product Futures Trading Committee is currently operated under the Chairman of Caroline Pham. PHAM has appointed CFTC chief policy advisor Harry Jung as the head of a regulatory agency to participate in the cryptocurrency industry. President Trump has not yet appointed a candidate to be a permanent chairman.
Trump pardoned Silk Road founder Ross Wolbricht and told Trus Social that he was pardoned in honor of the liberal movement that strongly supported me. Wolbri Hit was convicted of criminal business, drug distribution, and various conspiracy, and was sentenced to 40 years without double life and parole.
Trump announced that he would change the name of the existing US digital service to the government efficiency, led by ELON Musk (previously co -representative Vivek RamaSway has now left to run for Governor Ohio). At first, there was only Dogecoin logo on the company’s website. Companies are currently applying for the Doji Coin Listing Fund.
President Trump talked with President Nive Burlee El Salvador shortly after signing the cryptocurrency administrative order, but there was no mention of cryptocurrency in any form in the official readings of the call.
senate
The Senate Banking Committee confirmed the creation of a subcommittee focused on digital assets led by Senator Cynthia Lummis. Other members of the subcommittee include the freshmen Bernie Moreno (Republic-Ohio), who received $ 40 million in support from the cryptocurrency political activity committee, Fair Sheikh, and defeated the former Senator Sherrod Brown (democratic-Ohio) and Ruben Galgal. I received Lego (democracy-Arizona). $ 10 million worth of support and Dave McCormick (Republican-Pennsylvania).
The Banking Commission is also scheduled to hold a hearing on February 5, but the list of time and witnesses has not been announced yet.
Senator Ted Cruise (Republic, Texas), along with Representative Mike Carrie (Republic, Ohio), filed a resolution on the joint council review law to overturn the IRS’s recent cryptocurrency broker regulations. The rules, which were confirmed at the end of last month, defined the term “broker” for the purpose of reporting the IRS tax, but have already filed a lawsuit from the Blockchain Association. The industry lobbyists argue that the final rules are “to erase the burden of illegal compliance with software developers.”
Senator Elizabeth Warren (Democratic Party-Massachusetts), a new Democratic Party leader of the Senate Banking Committee, is also requesting a Trump token investigation from the US Ethics Bureau. She sent a public letter co -signed by Jake Auchincloss, a member of Congressman Massachusetts.
House of Representatives
The House of Representatives’s Supervisory Commission sent a letter to the government’s request to investigate whether the banks have stopped the banking business.
The House of Representatives has already planned two hearings about the cryptocurrency next month. On February 6, 2025, the first will focus on Debanking mentioned earlier. The title of the second event scheduled for February 11 is “The Golden Age of Digital Assets: Determines the way forward.”
Representative Gary Cornelli, president of the Democratic Party of the House of Representatives Surveillance Committee, asked James Comer, the Republican Republican Republican Republican Republican Representative James Comer, to investigate Trump’s Trump Coin and World Liberty Financial.
tuesday
- 16:00 UTC (9:00 AM MT) The 10th Visit Appeals Court has a claim to the lawsuit against the Custodia Bank against the Federal Reserve Bank.
- (Sam Curry) Some security researchers have found that they can track and control specific Subaru cars (ie, cars connected to the Internet). According to the author, the vulnerability is patched.
- (Bloomberg) Walgreens spent $ 200 million in replacing the refrigerator door with a screen. The supplier is currently fighting a legal fight with pharmacy/convenience store chain.
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