Trump Issues Executive Order to Boost Cryptocurrency Industry
Published On Jan 23, 2025, 4:35 PM
President Trump has issued an executive order aimed at supporting the cryptocurrency industry, reversing the regulatory scrutiny it faced under the Biden administration. The order calls for the establishment of a working group to propose regulations and evaluate the idea of a national cryptocurrency stockpile. Trump has personal financial interests in the crypto sector, including the launch of a new digital currency with his sons. However, the executive order has not addressed some of the industry's more aggressive calls for relief from legal actions taken under previous oversight.
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An increase in regulation-friendly policies might also give a boost to established ETF products focused on cryptocurrencies, such as those tracking Bitcoin or blockchain technology. The overall positive sentiment surrounding crypto could lead to inflows into these ETFs.
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