“I wouldn’t be surprised to wake up and hear that the tariffs have been postponed,” said Ackman, implying that Trump could use the delay to make more “deals.”

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On April 2, Trump signed an executive order imposing a 10% baseline tariff on all imports. Following this move, during the April 4 trading session, the U.S. stock market lost more value than the entire crypto market is currently worth. Interestingly, Bitcoin and the broader crypto space showed greater resilience than traditional equities.

Support from BitMEX and Gemini Founders!

BitMEX co-founder Arthur Hayes and Gemini co-founder Cameron Winklevoss publicly supported Trump’s trade policy. While opinions in the crypto space remain mixed, Ackman sees the tariffs as a “necessary” move to protect American workers and industry.

Ackman also issued a warning:

“The immediate implementation of these tariffs may catch businesses off guard and could push the U.S. economy into a severe recession.”

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This new directive from Trump is expected to explicitly roll back the measures introduced as part of “Operation Chokepoint 2.0.” This alleged initiative by the Biden administration aimed to block banking services for crypto companies and executives.

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Bo Hines, Executive Director of the White House’s Presidential Working Group on Digital Assets, confirmed to Decrypt that an administrative process is underway, although he declined to provide further details. Hines stated, “I think the industry can expect something in short order.”

Hines also emphasized that the Trump administration is determined to end all practices associated with Operation Chokepoint 2.0. The term was coined by Nic Carter, a partner at Castle Island Ventures, referencing the original “Operation Choke Point” initiated during the Barack Obama era, which targeted payday lenders and firearms dealers.

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The post Trump Plans to Issue a New Cryptocurrency Executive Order! appeared first on Coin Engineer.