In the first week of his administration, President Donald Trump has set the crypto world buzzing. The latest developments include the creation of a crypto task force by the acting Securities and Exchange Commission Chair, Mark Uyeda, and an executive order aimed at pushing cryptocurrency advancements in the U. S.

Experts are now mulling over what these moves might mean for the future of a national crypto stockpile. Matt Kaufman, the head of ETFs at Calamos, believes we could see legislation supporting a strategic bitcoin reserve. This is in line with the executive order signed by Trump on Thursday, which calls for the establishment of a working group on digital assets.

One of the key tasks for this working group is to propose criteria for a crypto reserve. Additionally, they are set to draft a new regulatory framework for how crypto operates in the U. S. Mike Venuto, the Chief Investment Officer at Tidal Financial Group, sees this as a positive step for the industry. "Enforcement through regulation has been chaotic, " he explained. "We need a streamlined approach from the government to make sense of this. "

Bitcoin prices have been soaring on the back of this industry optimism. The token hit a record high of $109, 350 on Monday and was trading around $105, 000 by Friday afternoon.

Crypto Enthusiasts Hopeful After Trump's Policy Moves

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