The past week saw several significant developments in the DeFi and crypto industry. From a new executive order by the US president to the establishment of funds for meme coins, here's a breakdown of the most important happenings.
Trump's Landmark Crypto Executive Order
On January 23, President Donald Trump signed a landmark executive order aimed at bolstering US leadership in blockchain and digital assets. The directive emphasizes regulatory clarity, financial independence, and privacy, notably banning federal efforts to develop or promote Central Bank Digital Currencies (CBDCs) in the United States.
SEC Updates Digital Asset Guidelines
The US SEC has rescinded the controversial Staff Accounting Bulletin (SAB 121) and introduced SAB 122, offering a more flexible approach for financial institutions managing digital assets. SAB 122 allows institutions to custody digital assets without recording them as liabilities but requires disclosure of related risks and obligations.
Rising Meme Coin Interest: Dogecoin ETF
Bitwise Asset Management has filed with the SEC for a Dogecoin (DOGE) exchange-traded fund (ETF), signaling the company's intent to launch a DOGE-focused investment product. The filing is a preliminary step towards a full SEC proposal and incorporates a Delaware statutory trust to ensure clear governance and tax benefits.
The week was marked by important events in the DeFi and crypto worlds. From a significant executive order to legislative changes and meme coin interest, these developments highlight the rapid evolution of the industry, which remains crucial to monitor.
