After four years of regulatory gridlock and aggressive litigation under the Biden administration, crypto companies and investors are breathing more easily.
Trump’s Crypto Embrace Spurs both optimism and calls for Clearer Regulation
23 May 2025 - 13:54 CEST
By Giles Broom
Industry leaders are paying close attention after President Donald Trump’s return to office brought a sharp pivot in tone and policy toward digital assets.
In a pair of sweeping executive orders, Trump reversed Biden-era crypto rules and launched a new strategy that prioritizes innovation over prosecution. One landmark move came in March: the creation of a Strategic Bitcoin Reserve, funded with seized criminal assets and intended as a long-term national holding. Industry leaders interpreted this as a signal of institutional validation for the sector.
Growing institutional acceptance
“Establishing a national strategic Bitcoin reserve signals growing institutional acceptance of cryptocurrencies,” said Batyr Hydyrov, CEO of Uminers, a cryptocurrency mining company. Michael Novogratz, founder of Galaxy Digital expanded further on the nature of the scrutiny from the Securities and Exchange Commission (SEC), noting in an interview on Bloomberg Television that the “shift of approach from Gary Gensler and the SEC to this Trump administration which has embraced our industry freed up animal spirits both here and abroad.”
The CoinMarketCap 100 Index has surged 58 percent since Trump’s 5 November 2024 election, despite the worldwide market jitters that followed Trump’s 2 April trade tariff announcements.
The environment for lucrative investment returns has spurred many companies to refocus on expansion, including a flurry of dealmaking with record-breaking acquisitions. Then came April’s surprise: the Department of Justice (DoJ) quietly dissolved the National Cryptocurrency Enforcement Team. Deputy Attorney General Todd Blanche framed it bluntly—no more “regulation by prosecution.”
Clearer regulatory frameworks
Still, support does not mean complacency. Industry leaders are calling for two things: clearer regulatory frameworks and a bipartisan approach that can survive political whiplash. The GENIUS Act, a bill aimed at providing national stablecoin regulation, demonstrates further that the appetite for serious, cross-aisle, bipartisan crypto legislation exists.
Crypto advocates are also rallying around transparency and ethics as foundations for trust. With the appropriate guardrails, they argue, the US could cement its global lead in digital financial technology. Many crypto companies have already undertaken their own efforts to enhance confidence in their enterprise through transparency by open sourcing code, publishing audit reports, and collaborating with licensed providers.
But without lasting consensus in Washington, this window for responsible innovation may be short-lived. Industry experts maintain that clear, well-balanced regulation is necessary to allow for the sustainable development of crypto within the United States.
“America’s got the lead now, but that edge won’t last without action,” said Konstruct Koin co-founder Chris Baldrey-Chourio. “We need regulators and builders at the same table,” he says. “That’s how you protect consumers and still let breakthroughs happen.”
