Source: Cointelegraph.com NewsThe cryptocurrency industry will benefit more from US regulatory clarity than from President Donald Trump\u2019s plan to create a national Bitcoin (BTC) reserve, several cryptocurrency executives told Cointelegraph.\u00a0
\nTrump\u2019s March 6 executive order creating a US strategic Bitcoin reserve and a separate digital asset stockpile for altcoins left crypto industry executives underwhelmed.\u00a0
\nMeanwhile, they are still waiting for the White House to provide detailed guidance on issues like securities regulation and taxation, the executives said.\u00a0
\n\u201cMarkets expect a roadmap for innovation and clear guidelines on stablecoins, institutional adoption and taxation,\u201d Max Giammario, CEO of Web3 artificial intelligence startup Kindred, told Cointelegraph.
\n\u201cInstead, the vague rhetoric and lack of immediate action only deepened uncertainty.\u201d
\nTrump signed a crypto executive order on March 6. Source: Margo Martin
\nRelated: Bitcoin reserve backlash signals unrealistic industry expectations<\/p>\n
Campaign promises Source: Cointelegraph.com NewsThe cryptocurrency industry will benefit more from US regulatory clarity than from President Donald Trump\u2019s plan to create a national Bitcoin (BTC) reserve, several cryptocurrency executives told Cointelegraph.\u00a0… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124790"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124790"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124790\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124790"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nIn July, Trump promised to turn America into the \u201cworld\u2019s crypto capital\u201d and create a US Bitcoin reserve akin to the nation\u2019s gold stockpile.\u00a0
\nTrump\u2019s March 6 executive order delivered on his campaign promise but left traders disappointed.\u00a0
\nInstead of instructing the US government to buy crypto, the reserve and the stockpile will initially only comprise digital assets seized by law enforcement.\u00a0
\nBitcoin is down approximately 13% from March 6 as traders react to the news amid a backdrop of macroeconomic uncertainty.\u00a0
\nAltcoins have clocked similar losses, with the total crypto market capitalization shedding more than $400 million.\u00a0
\nThose losses could worsen without clearer US policy guidance soon, industry executives said.
\n\u201cIf Trump\u2019s administration provides clearer regulations on stablecoins, ETFs and institutional adoption, altcoins could regain momentum,\u201d Alvin Kan, chief operating officer of Bitget Wallet, told Cointelegraph.
\n\u201cOtherwise, Bitcoin dominance may continue, as it remains the primary macro asset.\u201d
\nReasons for optimism
\nEven so, crypto industry executives remain optimistic, citing Trump\u2019s pro-crypto rhetoric and his appointment of industry-friendly leaders to key US regulatory posts.\u00a0
\n\u201cThe future of US crypto policy under Trump remains to be seen,\u201d Theodore Agranat, Gunzilla Games\u2019 director of Web3, told Cointelegraph.\u00a0
\n\u201cHowever, given the people in all the crucial positions, we should expect to see a stream of ongoing and positive initiatives and news for crypto in general and especially crypto projects in the US.\u201d
\nMagazine: Legal issues surround the FBI\u2019s creation of fake crypto tokensRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"