President Donald Trump’s second term has brought significant attention to Washington’s cryptocurrency agenda. The Republican-controlled Congress is expected to prioritize stablecoin regulation and other crypto-related bills in its first 100 days. This policy blitz aims to establish the US as a leading hub for digital assets, but concerns over illicit activity, market volatility, and regulatory uncertainty remain.
A bipartisan Stablecoin bill, introduced by Senators Tim Scott, Bill Hagerty, Cynthia Lummis, and Kirsten Gillibrand, is poised to garner support from both parties. The legislation would define payment stablecoins, establish clear procedures for issuers, and implement reserve requirements. However, the fate of federal stablecoin regulation remains uncertain due to ongoing bipartisan negotiations.
Trump’s executive order on digital assets, signed on January 23, 2025, sets a pro-crypto framework by directing the administration to evaluate crypto-friendly policies, rescinding Biden’s executive order, and calling for regulatory reviews within 180 days. While lacking immediate enforcement power, this order is seen as a roadmap for federal agencies to establish clearer guidelines.
The proposed US Strategic Bitcoin Reserve has sparked debate over its feasibility and implications for monetary policy. Some economists warn that holding Bitcoin as a reserve asset could introduce financial stability risks, while proponents argue it could strengthen the US dollar’s global dominance.
Trump’s appointment of Paul Atkins as SEC Chairman marks a shift in regulatory approach, with Atkins supporting clearer crypto custody rules and reforming industry guidelines. However, concerns over a potential sovereign wealth fund and Trump’s personal involvement in crypto have raised eyebrows about market manipulation and transparency issues.
As Congress prepares to tackle meaningful legislation, the first 100 days of Trump’s second term set the stage for a new era in US cryptocurrency policy. With bipartisan cooperation and clear regulations, crypto can take its rightful place in American politics.
Source: https://www.forbes.com/sites/tonyaevans/2025/02/08/electing-crypto-series-trumps-first-100-days-the-high-roller-crypto-bet