[NEWS] President Trump does not mention Bitcoin at inauguration ceremony; executive order to be signed tomorrow or later

President Trump, who was inaugurated as the 47th president, did not mention cryptocurrencies, including Bitcoin (BTC), at his inauguration ceremony on the 20th. In response to this, the cryptocurrency market, which had been paying close attention to President Trump's remarks, saw a large drop.

At the inauguration ceremony, President Trump said, "The golden age of America is about to begin," emphasizing his America First policy. He also mentioned measures against illegal immigration and tariffs with China in mind, but did not mention anything about cryptocurrencies, which the cryptocurrency industry had been expecting.

In addition, the cryptocurrency-related executive order, which was expected to be signed on the first day of his inauguration, was never signed. In response to this, disappointment selling spread, and at the time of writing, Bitcoin was fluctuating around $101,700 (approximately ¥15.8 million). Before President Trump's inauguration, Bitcoin had risen to $109,000 (approximately ¥16.95 million) at one point, breaking its all-time high.

On his first day in office, President Trump signed several executive orders, including withdrawing from the World Health Organization (WHO), strengthening measures against illegal immigration, and establishing the Department of Government Efficiency (D.O.G.E.). Although there was no movement on cryptocurrency-related executive orders on his first day in office, some have pointed out that they may be signed after tomorrow, when the stock market returns from the holiday.

The executive orders are expected to include the establishment of a cryptocurrency advisory committee and the repeal of SAB 121, a guideline for banks holding cryptocurrency. In addition, while it is unlikely that an executive order will be issued, attention is focused on Trump's words and actions regarding the establishment of a Bitcoin reserve.

In addition, several US media outlets reported, citing sources, that President Trump would include cryptocurrency as a top priority for the country immediately after taking office, but this was not included in the "President Trump's America First Priorities" released by the White House. There is also no mention of cryptocurrency in the Republican Party's documents on congressional priorities.

Meanwhile, Paul Atkins, who has a positive attitude towards cryptocurrencies, is set to become the new chairman of the SEC (US Securities and Exchange Commission). Prior to that, Mark Uyeda was appointed acting chairman. Uyeda is also known as a supporter of cryptocurrencies, and the SEC is now in a position to push ahead with regulatory developments more than ever before.

Reference: THE WHITE HOUSE
Image: Shutterstock

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