TronWeekly

Crypto World News

You are here: Home / Archives for Trump Administration

Trump Administration

Federal Reserve Eases Crypto Restrictions, Boosts Bitcoin Adoption

by

  • Fed removes advance crypto notification requirement for banks.
  • Federal Reserve eases restrictions on stablecoin activities.
  • Regulatory shift supports innovation in the U.S. banking sector.

The Federal Reserve has withdrawn its anti-crypto policies, marking a shift in guidelines toward digital assets and stablecoins. On April 24, 2025 the Federal Reserve announced the removal of restrictions that prohibited banks from crypto asset operations. The Federal Reserve decision supports innovation in the U.S banking sector. 

Federal Reserve Rescinds Crypto Banking Rule

In an official statement, the Federal Reserve eliminated the requirement for state member banks to inform the central bank before any venture in crypto-based activities. In 2022 the Fed issued a guidance that required banks to inform them ahead of digital asset initiatives. After the withdrawal of the supervisory letter, the Federal Reserve will supervise banks’ digital asset operations through its regular framework.

Furthermore, the Federal Reserve withdrew a 2023 supervisory letter that limited the participation of state member banks in stablecoin activities. The letter expressed concerns about the risks connected to widespread adoption of digital assets such as stablecoins. The supervisory letter listed risks that could disrupt the financial system such as asset instability and payment system issues.

Shift in Digital Asset Regulation

The Federal Reserve’s decision follows similar actions from other federal banking regulators such as the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC). These agencies have withdrawn their 2023 joint statements that warned banks not to deal with firms involved in digital asset scams. The joint statements cautioned that inaccurate disclosures by crypto firms could hurt investors and the financial markets.

The decision matches the Trump administration’s efforts to build friendly regulations for crypto businesses. The actions build on efforts to promote innovation and develop an inclusive financial system. The Federal Reserve’s decision reflects the increased acceptance of blockchain and crypto innovations to improve banking and financial operations.

The Federal Reserve’s move follows the Securities and Exchange Commission (SEC) decision to remove a rule that required financial firms to list digital assets as liabilities. The rule made it difficult for financial institutions to enter the crypto banking market which slowed digital asset adoption. The decisions by the Federal Reserve and SEC could boost growth of banks in the digital asset industry.

Experts believe this adjustment will help boost the integration of digital assets with  traditional finance. The decision enables banks to offer more digital asset services which include digital assets custody and stablecoin transactions. The Federal Reserve’s updated policies could foster innovation amid the increased demand for digital assets across the world. 

Trump Administration to Announce U.S. Crypto Reserve at White House Crypto Summit

by

  • Lutnick confirms the U.S. Bitcoin Strategic Reserve may be announced this Friday.
  • Trump’s administration plans to establish a Bitcoin reserve, says Commerce Secretary.
  • Bitcoin is set for a unique status in the U.S. reserve, with an official update expected.

The upcoming March 7 White House Crypto Summit has created an intensive focus among cryptocurrency industry professionals. Participants will join this summit, which operates from 6:30 pm to 10:30 pm UTC, with leaders from both the crypto industry and government sector.

The upcoming roundtable will welcome more than 25 participants of the Presidential Working Group on Digital Assets. The White House Crypto Summit will include eleven executives, two White House representatives, and more attendees who have yet to confirm.

Crypto czar David Sacks and Bo Hines confirmed their attendance for Sacks’ summit announcement. Ripple CEO Brad Garlinghouse previously suggested participation but the complete list of attendees remains undisclosed.

Major crypto figures, including Tether CEO Paolo Ardoino and Ethereum co-founder Vitalik Buterin, are predicted to join when the meeting happens. The upcoming event is the first substantial move toward establishing controlled regulations that build bridges between government entities and cryptographic assets.

image 18
Source; Eleanor Terrett

Proposed U.S. Crypto Reserve and Bitcoin’s Strategic Role

During the summit, U.S. President Donald Trump discussed the launch of a U.S. digital assets Strategic Reserve holding Bitcoin, Ethereum, and their altcoins, Ripple (XRP), Solana (SOL), and Cardano (ADA). This notification, which projects future market alterations, will give digital assets pivotal U.S. policy changes. The reserve represents a fulfillment of Trump’s earlier statements about holding strategic Bitcoin reserves at a time when the cryptocurrency stands apart from other assets in the reserve.

Commerce Secretary Howard Lutnick indicated that Bitcoin would hold a primary position but altcoins will receive “positive” but “different” treatment within the framework. Based on this recommendation, the crypto community engages in discussions concerning future U.S. policies toward different digital currencies. 

The inclusion of Bitcoin in the strategic reserve was expected, but the decision to include Solana and Cardano’s altcoins generated uncertainty regarding their specific selection reasons. Although digital assets are seen as having strong technology, these altcoins have different features, with Solana being distinctive through speed, whereas Cardano emphasizes security and sustainability.

Market Reaction and Future Implications

The U.S. Crypto Strategic Reserve declaration triggered immediate market responses that boosted Bitcoin, Ethereum and all other listed altcoin values. Bitcoin’s price experienced a major increase exceeding 10%, Ethereum rose by 12%, and XRP achieved a 30% spike. The market optimism towards this reserve suggests that institutional investors might view the policy positively and strengthen their confidence in the crypto market.

Market participants maintain differing viewpoints about integrating multiple altcoins with the reserve assets. According to Coinbase CEO Brian Armstrong and other market participants they prefer a Bitcoin-only reserve for the digital assets reserve. Experts predict that including a wider range of digital assets in the reserve would create diversity in its potential while enhancing U.S. leadership in the global digital asset sector.

Ethereum’s $2K Comeback and White House Snub

by

  • Ethereum Founder’s name missing as crypto industry leaders gather at the White House for a defining summit.
  • Regulation or Ruin? The White House summit could make or break the crypto industry.
  • Stablecoins, CBDCs, and the future of finance at stake for crypto in this crucial meeting.

Ethereum made a comeback after a sharp drop to $2K. The rebound comes as Trump gears up to host several crypto industry executives at the White House Crypto Summit on March 7. As per information shared by Fox Business reporter, Eleanor Terret, the list of attendees will be reportedly exclusive, not more than 25 imdividuals.

The confirmed list of attendees includes Strategy founder Michael Saylor, Bitcoin Magazine CEO David Bailey, Paradigm co-founder Matt Huang, Exodus CEO J.P. Richardson, Multicoin Capital co-founder Kyle Samani, World Liberty Financial co-founder Zach Witkoff, Chainlink co-founder Sergey Nazarov, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev and Kraken CEO Arjun Sethi.

However amidst this power-packed guest list, Ethereum co-founder Vitalik Buterin’s name appears to be missing. Some suggested that Buterin’s Russian-Canadian background could be a reason, considering US geopolitical tensions with Russia.

While there is still time for last-minute confirmations, Ethereum’s apparent lack of representation at the summit could impact regulatory discussions surrounding the network. Analysts remain divided on whether ETH’s latest rebound signals the start of a bullish or bearish trend.

Ethereum’s Bull Trap? Fake Out or Breakout

Traders are closely observing a potential “fake out” scenario amidst a bullish divergence on the Relative Strength Index (RSI). Recent price action has seen ETH dip below key support levels, leading some to believe a bearish trend is taking hold. However, technical analysis suggests a possible reversal.

Ethereum
Source: @CryptooELITES

A bullish divergence has emerged on the RSI, a momentum indicator, signaling that while the price has been declining, momentum is actually strengthening. This divergence often precedes a price reversal, leading many to anticipate an upward move for ETH.

In a parallel development, Ethereum core developer Terence said that the Sepolia testnet has just been smoothly upgraded to Pectra with a near-perfect proposal rate. Ethereum’s Pectra hard fork upgrade covers EIP-2935, EIP-7002, and EIP-7251. The mainnet upgrade is scheduled for mid-March 2025.

Ripple Secures 2 Powerful Licenses in New York and Texas for Expansion

by

  • Ripple Secures New York and Texas Licenses to Expand U.S. Payments
  • Ripple Boosts U.S. Expansion with Two New Money Transmitter Licenses
  • Ripple’s Global Payments Solution Expands with U.S. State Licenses

Ripple has secured Money Transmitter Licenses in both New York and Texas, a strategic move that enhances its ability to deliver cross-border payment solutions. This expansion will support growing demand for faster, more efficient financial services.

Ripple Acquires Strategic New Money Transmitter Licenses

Ripple has secured Money Transmitter Licenses (MTLs) in New York and Texas. These licenses will help the company expand its presence in the U.S. market. Ripple’s cross-border payments solution will now be available to customers in these states, with Ripple managing transactions end-to-end on behalf of clients.

The new licenses add to Ripple’s extensive regulatory approvals across the U.S. and internationally. Ripple now holds more than 55 MTLs, including in 33 U.S. states. The company also holds licenses and registrations in New York, Singapore, Ireland, the Cayman Islands, and Dubai.

Impact of MTLs on Payment Networks

Ripple’s MTLs enable the company to offer real-time global payments solutions to banks and crypto businesses. According to Ripple, there is strong demand for compliant payment solutions in New York and Texas. Ripple’s Managing Director for North America, Joanie Xie, emphasized that financial institutions and crypto firms seek the benefits of faster, cost-efficient, and 24/7 cross-border payments.

Ripple has processed around $70 billion in payment volume on its blockchain. The company continues to grow its network, adding more North American customers each year. In 2023, Ripple saw a significant increase in the number of customers using its payment solutions.

Ripple’s growth comes amid optimism in the U.S. crypto sector, following the shift in political leadership. The Trump administration has been more supportive of crypto, with key regulators being appointed who are friendly to the industry. Ripple is optimistic that this will benefit the broader crypto ecosystem, leading to a more favorable regulatory environment.

Ripple’s Expansion Strategy

The company also plans to invest heavily in talent acquisitions, with 75% of its open positions based in the U.S. Ripple’s hiring rate has increased significantly, with many positions in its New York and San Francisco offices. As Ripple continues to expand, the company aims to further strengthen its position in the global payments market.

Moreover, Ripple recently launched RLUSD, a stablecoin tied to the U.S. dollar. The coin will be integrated into Ripple’s Payments network later this year. Ripple’s ongoing efforts provide comprehensive solutions for cross-border payments and to drive blockchain adoption.

Ripple’s expansion in the U.S. marks a key step in its growth strategy, especially as it navigates regulatory challenges. The company is hopeful that the new administration’s stance on crypto will foster a more secure and favorable environment for blockchain companies. Ripple’s future growth depends on maintaining strong regulatory compliance and offering innovative financial solutions.

SEC’s Bold Move to Rescind SAB 121, Unlocks Crypto Custody for Wall Street Banks

by

  • SEC removes accounting rule, allowing banks to hold digital assets.
  • SAB 121 reversal boosts Wall Street’s crypto offerings and expansion.
  • SEC’s new crypto task force to guide clearer regulatory path.

The SEC’s recent move to rescind SAB 121 marks a turning point for Wall Street’s relationship with digital assets. With the rule now lifted, major banks are poised to broaden their digital assets services and reshape the market’s landscape.

SEC Reverses Rule, Greenlights Wall Street Banks

The U.S Securities and Exchange Commission (SEC) has reversed the Staff Accounting Bulletin 121 (SAB 121) rule that hindered Wall Street banks from holding cryptocurrencies. The decision marks a shift in the regulatory landscape, paving the way for increased participation in the crypto sector. The SEC has removed a major barrier that discouraged banks from offering digital asset services.

SAB 121, introduced in 2022, required banks to treat digital assets as liabilities on their balance sheets when providing crypto custody services. This rule imposed high capital requirements and increased operational costs, making it costly for financial institutions to manage large volumes of digital assets. This regulation deterred many banks from expanding their digital assets offerings, such as custody and transaction services, for clients.

Leadership Changes Influence on SEC Decision

The SEC’s move comes after a sustained push from the crypto industry to overturn the rule. Last year, a bipartisan effort in Congress sought to revoke SAB 121,although President Joe Biden vetoed the proposal. However, the growing momentum to reshape digital assets regulations gained traction, leading to the SEC’s decision this week.

Hester Peirce, a pro-crypto SEC commissioner, celebrated the announcement. She had voiced strong opposition to SAB 121, and in a recent post on X, Peirce expressed relief at its revocation. Peirce has been tasked with leading a new SEC crypto task force, aimed at developing a clear regulatory framework for digital assets.

This change comes a few days after the departure of former SEC Chair Gary Gensler on January 20. Gensler, a vocal advocate for stricter digital asset regulations, defended the accounting rule as necessary to protect investors. His resignation is likely to reshape the regulatory approach to digital assets, especially as President Donald Trump’s administration seeks to embrace digital asset growth.

Impact of SAB 121 Reversal

The SEC’s decision is expected to have a major impact on Wall Street’s involvement in the crypto industry. Major banks, such as Goldman Sachs, Morgan Stanley, and Bank of America, have previously indicated that they could integrate crypto strategies if regulatory conditions improved. The CEOs of these institutions have expressed optimism that a more favorable regulatory environment could enable them to expand their digital asset offerings.

The SEC’s new approach signals an opportunity for Wall Street to strengthen its position in the rapidly growing digital asset market. Financial institutions may broaden their digital assets services because of reduced barriers. The decision is likely to boost innovation and investment in digital assets, further integrating digital assets into traditional financial markets.

The reversal of SAB 121 sets a clearer path for banks improving institutional adoption of digital assets.

SEC Launches Crypto Task Force Under Trump Administration to Clarify Rules

by

  • SEC’s new crypto task force aims to create clear regulations, addressing industry uncertainty around token registration.
  • Bitcoin hits a record high of $109,071 following the SEC’s crypto regulatory shift under the Trump administration.
  • SEC’s crypto task force to collaborate with CFTC, lawmakers, and global agencies for unified digital asset regulation.

On January 21, 2025, the U.S. SEC took an important step by creating clear rules for the cryptocurrency market. The SEC established a new task force to make detailed digital asset rules. With President Donald Trump’s approval, the administration wants to change rules and give the crypto community the clear regulations they have requested.

The Role of the New Task Force in Crypto Regulations

SEC Commissioner Hester Peirce, who has consistently supported cryptocurrency and is popularly known as “Crypto Mom,” will lead the new task force. The task force should define how cryptocurrency should be registered, create effective ways for companies to share information, and choose carefully when to enforce rules. The team will meet with industry experts to find favorable ways to meet regulatory standards, reducing the sector’s problems with unclear rules.

The community and interested parties were increasingly dissatisfied with the SEC because it hadn’t set clear rules. The SEC’s unclear guidelines made Coinbase, Kraken, and other firms unsure when cryptocurrency tokens fall under securities laws. By creating this team the SEC aims to build a clearer, better-organized marketplace that encourages development while keeping investors safe.

Task Force’s Engagement with Industry and Lawmakers

The task force will collaborate with federal agencies like the Commodity Futures Trading Commission (CFTC) and gather perspectives from state and international regulators. Its goal is to ensure that rules work smoothly in different jurisdictions while meeting U.S. and international industry market demands.

The task force will work with lawmakers on regulations and conduct public hearings to get ideas from many people in the industry. The meetings will cover important issues like how tokens are classified and what rules govern digital asset exchanges. The SEC wants every affected group to help make rules aiming for outcomes that everyone can use effectively. 

Market Reaction and Industry Support for SEC’s Move

Cryptocurrency companies and other interested parties have welcomed the announcement. Larger exchanges such as Kraken and Coinbase remain optimistic about the SEC’s new approach to regulating digital assets. The policy head of Kraken, Jonathan Jachym, called this progress a major achievement that brings clarity.

Coinbase’s Chief Legal Officer Paul Grewal also endorsed the effort, noting that the industry has requested guidance from regulators for years. The new administration has provided a new direction to bring a clearer direction for digital assets.

This sentiment was reflected in the market, as the price of Bitcoin surged to $109,071 as investors cheered the administration’s embrace of digital assets.