Crypto industry executives believe that regulatory clarity in the US will benefit the sector more than President Donald Trump's plan to create a national Bitcoin reserve.
Campaign promises
In July, Donald Trump promised to turn America into the 'world's crypto capital' and create a Bitcoin reserve akin to the nation's gold stockpile. His March 6 executive order essentially delivered on this promise but left traders disappointed. Instead of directing the US government to purchase cryptocurrencies, the reserve and the stockpile will initially consist only of digital assets seized by law enforcement. Since its signing, Bitcoin's value has dropped by approximately 13% as traders react to the news amid macroeconomic uncertainty.
Reasons for optimism
Despite the uncertainty, crypto industry executives remain optimistic, citing Trump's pro-crypto rhetoric and his appointment of industry-friendly leaders to key US regulatory posts. 'The future of US crypto policy under Trump... remains to be seen,' Theodore Agranat, Gunzilla Games' director of Web3, told Cointelegraph. 'However, given the people in all the crucial positions, we should expect ongoing and positive initiatives and news for crypto in general and especially crypto projects in the US.'
Need for regulatory clarity
Industry executives continue to wait for detailed guidance from the White House on issues like securities regulation and taxation. 'Markets expect a roadmap for innovation and clear guidelines on stablecoins, institutional adoption, and taxation,' Max Giammario, CEO of Web3 artificial intelligence startup Kindred, told Cointelegraph. 'Instead, the vague rhetoric and lack of immediate action only deepened uncertainty.'
The future of the US crypto industry depends on regulatory clarity and clear guidelines for innovation, which can support both Bitcoin and altcoins in regaining growth momentum.
