Analysts say Trump presidency marks ‘a turning point’ in US crypto policy

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The Trump presidency has been a watershed moment for cryptocurrency policy in the United States. Under Trump, the government has taken a more hands-off approach to regulating digital assets, a move that has been welcomed by many in the crypto community.

Prior to Trump's election, the Obama administration had taken a more cautious approach to cryptocurrency, issuing a number of warnings about the risks associated with digital assets. However, Trump's administration has been more open to embracing cryptocurrency, and has taken steps to create a more favorable regulatory environment for the industry.

One of the most significant changes under Trump has been the Securities and Exchange Commission's (SEC) decision to delay a decision on whether to approve a Bitcoin exchange-traded fund (ETF). An ETF would allow investors to trade Bitcoin on a regulated exchange, which would make it more accessible to mainstream investors. The SEC has been considering an ETF for several years, but has yet to make a decision. The delay under Trump has been seen as a positive sign by many in the crypto community, who believe that an ETF would help to legitimize Bitcoin and other digital assets.

In addition to the SEC's decision on the ETF, the Trump administration has also taken steps to clarify the regulatory framework for cryptocurrency. In 2019, the Treasury Department issued a report on the legal status of cryptocurrency, which provided guidance on how digital assets should be treated under existing laws. The report was welcomed by the crypto community, as it provided much-needed clarity on the regulatory landscape.

The Trump administration's approach to cryptocurrency has been a departure from the Obama administration's more cautious approach. Under Trump, the government has taken a more hands-off approach to regulating digital assets, a move that has been welcomed by many in the crypto community. The SEC's decision to delay a decision on the Bitcoin ETF and the Treasury Department's report on the legal status of cryptocurrency are two examples of the Trump administration's more favorable approach to digital assets.