The Trump administration in nearly 100 days reversed Washington’s tone on cryptocurrency, making good on many of its promises to the industry in a blitz of executive orders and regulatory shake-ups.

From scrapping Biden-era lawsuits against crypto firms to greenlighting a strategic bitcoin reserve, President Trump’s first 100 days included a combination of both symbolic and concrete moves on digital assets.

While crypto observers agree the long-term impacts of these moves are not yet clear, key players in the crypto industry see Trump’s early changes as wins in their own rights.

The persistent positivity remains even as Trump’s other policy moves, from the trade war to the launch of meme coins, create new frustrations for some in the crypto industry.

“The big picture here is tremendous, and we have a long-term perspective, we invest for the long term from our seat [and] it's as good as it could possibly be,” said Nic Carter, a founding partner at crypto investment firm Castle Island Ventures.

Industry optimism remains high

After months of courting voters who own or support cryptocurrencies, Trump planted a flag for pro-crypto policies within days of his return to office.

The president signed an executive order during his first week to create a working group focused on digital assets led by David Sacks, the White House czar for artificial intelligence (AI) and cryptocurrency.

Trump tasked the group with proposing a federal regulatory framework for digital assets and helping oversee the strategic bitcoin reserve and digital assets stockpile, which the president established via executive order in March.

Trump also reversed former President Biden’s 2022 crypto directive, marking a clean break for the crypto industry under the new administration.

“It’s a total sea change in Washington, it couldn’t be more different from six months ago,” Carter said.

Carter said he keeps a list in his desk to track Trump’s fulfillment of crypto-related campaign promises.

“It's a bunch of green checks down the page,”........

© The Hill