President Trump proposed a “Crypto Strategic Reserve” on March 2, enhancing the standing of five cryptocurrencies: Bitcoin, Ethereum, XRP, Solana, and Cardano. Following the announcement, these cryptocurrencies experienced notable price surges. This effort comes alongside Executive Orders aimed at promoting U.S. leadership in digital assets and diminishing previous regulatory constraints. The SEC’s withdrawal of its lawsuit against Coinbase signals a shift towards transparency in cryptocurrency regulation.
On March 2, United States President Donald Trump announced his intention to establish a “Crypto Strategic Reserve” on social media, citing five major cryptocurrencies: Bitcoin, Ethereum, XRP, Solana, and Cardano. Trump asserted that this initiative would rejuvenate the cryptocurrency industry, which he claims has suffered during the tenure of the Biden Administration. He emphasized, “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”
In summary, President Trump’s announcement regarding the Crypto Strategic Reserve has significantly affected U.S. cryptocurrency prices, with notable increases across various digital assets. His declaration aligns with an Executive Order aimed at positioning the U.S. as a global leader in digital finance while reversing previous regulatory efforts initiated by the Biden Administration. The recent decision by the U.S. Securities and Exchange Commission to halt its lawsuit against Coinbase further illustrates a commitment to a more open regulatory framework.
Original Source: www.moroccoworldnews.com
