Basri Caneri 
In his first week after being sworn in as US president, Donald Trump has quickly started to fulfill his promises to the crypto world. Trump, who received massive support from the crypto sector before the elections in November, fulfilled most of these promises, creating a positive atmosphere in the sector. In the 2024 elections, where 48% of total corporate donations were provided by the crypto sector, 250 crypto-supportive deputies and 16 senators were elected to Congress.
It is seen that Trump has already fulfilled 6 of his 8 promises to the crypto world. These promises include important topics such as Bitcoin reserves, CBDC ban, regulations and SEC changes.
Trump’s Promises Fulfilled So Far
- Digital Asset Reserve
- Trump signed a presidential decree for the US to create a national stockpile of digital assets. A working group led by David Sacks has been established. However, the “reserve or stockpile?” debate continues.
- CBDC (Central Bank Digital Currency) Ban
- The same decree banned the US Federal Reserve from issuing a central bank digital currency (CBDC). Trump has characterized CBDCs as tools that restrict freedoms.
- Repeal of SAB 121
- Trump rescinded the SEC’s SAB 121 accounting rules that made it harder for banks to store digital assets. This step made it easier for banks to offer crypto custody.
- Amnesty for Ross Ulbricht
- Trump lifted the sentence of Silk Road founder Ross Ulbricht. Trump personally called Ulbricht’s mother with the good news.
- Changes at the SEC
- Before the election, it was announced that SEC chairman Gary Gensler would be dismissed. However, there was no need for this; Gensler resigned on January 20th. Crypto-friendly Paul Atkins is expected to head the SEC. Furthermore, a Republican-led “Crypto Task Force” has been created.
- Net Crypto Regulations
- The Digital Assets Working Group, led by David Sacks, has started working on making regulations transparent and clear. This is especially important for stablecoins.
Two Big Promises Trump Has Yet to Fulfill
- Finishing Operation “Chokepoint”
- The pressure on technology companies since the Obama era had increased even more under the Biden administration. Trump promised to end these pressures. Although some of these pressures have been reduced by recent decrees, they have not been completely ended.
- Personal Retention Right
- Trump has promised to introduce a regulation that individuals’ digital assets in their personal wallets will not have to be disclosed. However, no concrete steps have been taken yet.
Trump’s Impact on the Crypto World
During his election campaign, Trump enlisted the support of the crypto world, promising to both reduce regulatory pressure on the industry and encourage innovative solutions. These steps, which he quickly took after taking office, were welcomed positively in the crypto community. However, whether promises such as the right to personal custody will be fulfilled will be one of the determining factors of Trump’s long-term impact on the industry.
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