Cryptocurrency Industry Now Awaits Clear Regulatory Guidelines from the White House: Cointelegraph

# Crypto Industry Awaits White House Guidance on Regulation and Taxation The cryptocurrency industry remains in anticipation for concrete guidelines from the White House on key issues such as securities regulation and taxation, according to a report by Cointelegraph on the 10th. The publication noted that clear regulatory frameworks would be more beneficial than former President Donald Trump's strategic Bitcoin (BTC) reserve plan. Cointelegraph revealed that on March 6, former President Trump issued an executive order announcing a U.S. strategic Bitcoin reserve and altcoin digital asset reserve plan. However, the cryptocurrency industry expressed disappointment, pointing out the plan’s lack of specific implementation details and ambiguous rhetoric. Max Giammario, CEO of Web3 AI startup Kindred, stated, “The market is looking for a roadmap for innovation, clear guidelines on stablecoins, institutional adoption, and taxation. However, the lack of immediate action and vague rhetoric has only heightened uncertainty.” # Campaign Promises and Market Reaction Last July, former President Trump pledged to make the U.S. the “world’s cryptocurrency capital” and to establish a national Bitcoin reserve akin to the country’s gold reserves. However, the executive order issued on March 6 indicated that the reserve would be constituted using digital assets confiscated by law enforcement rather than direct government purchases. This announcement led to a roughly 13% decline in Bitcoin prices, with altcoins experiencing similar losses. The entire cryptocurrency market's capitalization decreased by over $400 million. Industry insiders warned that unless clear policy guidelines are developed promptly, further losses could ensue. Alvin Kan, Chief Operating Officer of Bitget Wallet, remarked, “If the Trump administration provides clear regulations on stablecoins, ETFs, and institutional adoption, altcoins could regain momentum. Otherwise, Bitcoin will likely remain the dominant macro asset.” # Optimistic Outlook Despite the setbacks, the cryptocurrency industry remains hopeful due to former President Trump's pro-crypto rhetoric and the appointment of crypto-friendly individuals to regulatory positions. Theodore Agranat, Web3 Director at Gunzilla Games, commented, “The future of U.S. cryptocurrency policy under the Trump administration is still uncertain. However, given the key figures in significant positions, there is optimism for positive news and initiatives within the broader cryptocurrency ecosystem, particularly for projects based in the United States.”