President Donald Trump has excluded cryptocurrency from his new list of legislative priorities, causing concern among his supporters in the crypto industry.
Support for Crypto Community During Campaign
During his campaign, Trump showed clear support for the crypto industry. He endorsed the industry at a conference in Nashville and even created a Solana-based meme coin. Furthermore, he hosted a 'Crypto Ball' event that attracted key industry figures, emphasizing his support for the sector.
Trump's Plans and Potential Impact on Crypto
Trump's inaugural speech focused on issues such as border security and economic challenges, with no mention of cryptocurrency. This has raised concerns among crypto supporters, especially given his earlier rhetoric. However, the election of many pro-crypto Congress members and Trump's appointment of supportive regulators, including a 'crypto czar', suggest a potential alignment with crypto interests.
Crypto Community's Reaction to Trump's Plans
The crypto community is divided on the significance of Trump's omission. Some believe concerns are exaggerated, citing the presence of pro-crypto regulators. Others view the lack of explicit support as a warning sign about Trump's long-term commitments to the industry. Meanwhile, many crypto leaders continue to appreciate Trump's past efforts. Chainlink co-founder Sergey Nazarov noted that Trump's leadership has encouraged clearer regulations and new opportunities for adoption.
The crypto industry will continue to observe Trump's actions to see if his previous initiatives translate into effective crypto policies. While the omission from his priorities has sparked debate, his past support suggests he may still be an ally for the sector.
