On March 2, President Trump announced a Crypto Strategic Reserve that includes Bitcoin, Ethereum, XRP, Solana, and Cardano. Following this announcement, cryptocurrency prices surged significantly. This move aligns with an executive order to create a regulatory framework to enhance U.S. leadership in digital finance, contrasting with Biden’s previous policies. The SEC has also signaled a new approach by dropping its lawsuit against Coinbase.
On March 2, U.S. President Donald Trump announced via social media the inclusion of five U.S.-based cryptocurrencies—Bitcoin, Ethereum, XRP, Solana, and Cardano—within his proposed Crypto Strategic Reserve. Trump asserted that this initiative would rejuvenate the cryptocurrency sector, which he claims has suffered under the previous Biden Administration’s policies. He emphasized his commitment to establishing the United States as the premier hub for cryptocurrency, proclaiming, “We are MAKING AMERICA GREAT AGAIN!” through this venture.
Following Trump’s announcement, cryptocurrency markets experienced notable price surges. Cardano soared by an impressive 70%, while XRP and Solana rose by 30% and 20%, respectively. Bitcoin and Ethereum also exhibited gains, increasing by 10%. This market response illustrates the immediate impact of Trump’s proposed strategy on investors’ sentiment towards these digital assets.
This declaration aligns with an Executive Order Trump issued on January 23, which seeks to create a structured regulatory framework for digital assets. This initiative aims to bolster leadership in financial technology, enhancing the responsible use and growth of cryptocurrencies across various economic sectors in the United States. Trump’s directive seeks to position the nation prominently in global digital finance.
Moreover, this policy directly contradicts a prior executive order issued by former President Joe Biden in March 2022. Biden’s framework focused on the responsible development of digital assets while addressing consumer, investor, and business protections. In a related development, the U.S. Securities and Exchange Commission recently discontinued its ongoing lawsuit against Coinbase, thereby signaling a shift towards a more transparent regulatory environment that involves public engagement rather than heavy-handed enforcement actions.
In conclusion, President Trump’s announcement of a Crypto Strategic Reserve, alongside significant price increases for major cryptocurrencies, underlines a pronounced shift in U.S. digital asset policy. His executive order aims to foster innovation and establish the U.S. as a leader in cryptocurrency, contrasting sharply with the previous administration’s more cautious approach. The SEC’s actions further suggest a trend toward a more open regulatory framework for the cryptocurrency industry.
Original Source: www.moroccoworldnews.com
