While Donald Trump's upcoming inauguration has sparked curiosity about potential changes to crypto regulations, the New York Digital Investment Group (NYDIG) suggests these changes might not happen right away.
In a January 10 research note, Greg Cipolaro, NYDIG’s global head of research, acknowledged the excitement about policy shifts under the new administration but pointed out that “some changes may take time”.
He explained that key positions within the administration still need to be filled, nominees must be confirmed, and their teams assembled before work on crypto regulations can begin in earnest.
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Cipolaro pointed out that the administration may prioritize issues like immigration, the national budget, and international trade before focusing on cryptocurrencies.
He also highlighted how legislative goals could also face delays. For example, bills addressing stablecoins or clarifying the roles of regulators in the crypto industry might progress slowly.
However, Cipolaro expressed optimism about the individuals chosen for roles connected to Bitcoin
One potential development could be the creation of a US strategic Bitcoin reserve. Cipolaro noted that this might happen through an executive order, which could be implemented quickly.
He mentioned that a draft proposal for such an order has already been shared online by Bitcoin advocates. However, he cautioned that executive orders are temporary and could be reversed by future presidents.
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