FameEX Hot Topics | NYDIG: Crypto Commitments Could See Delays as Trump’s Inauguration Nears

NYDIG’s global head of research, Greg Cipolaro, advised in a Jan. 10 research note that immediate changes to cryptocurrency policy should not be expected, even with President-elect Trump set to take office on Jan. 20. While the inauguration has renewed optimism for fulfilling campaign promises, Cipolaro emphasized that some changes could take time to materialize.

He identified several obstacles to swift implementation, including the need for key officials to be appointed and confirmed by the Senate. These officials would then need to form their teams. Additionally, critical crypto-related legislation, such as stablecoin regulations and bills clarifying the roles of securities and commodities regulators, may face delays. With a conservative, free-market legislature now in place, bipartisan compromise could become more challenging than under prior leadership.

Cipolaro also highlighted pressing national priorities that may overshadow cryptocurrency initiatives. Issues like geopolitical tensions, budget and debt ceiling debates, global trade policies, and immigration could dominate the administration’s early focus, potentially relegating crypto reforms to a lower priority.

Nonetheless, Cipolaro expressed optimism regarding Trump’s initial picks for major financial roles, including the Treasury, Securities and Exchange Commission, and White House digital assets adviser. However, key positions at the Commodity Futures Trading Commission, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation remain unfilled. “The appointments so far appear favorable for crypto and Bitcoin,” Cipolaro noted.

One potential near-term action, according to Cipolaro, is the establishment of a strategic Bitcoin reserve, which could be implemented through an executive order. A draft proposal for such an order, prepared by a Bitcoin advocacy group, has already circulated online. However, Cipolaro cautioned that executive orders lack permanence and could be reversed by future administrations. While optimistic about the longer-term outlook, Cipolaro recommended patience as the new administration navigates competing priorities.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.