The former president has pledged to end the regulatory use of digital assets as a weapon. Additionally, he promised to “rescind and amend” all previous crypto guidance from the IRS. This announcement indicates a significant shift in the administration’s approach to regulating cryptocurrencies. The goal of these crypto guidelines from the IRS is to make the industry’s growth more favorable.
Trump’s Strategy to Reduce Regulation and Encourage Crypto Innovation The government’s heavy-handed approach to digital assets has long been criticized by crypto supporters. With many arguing that innovation is stifled by the current regulatory framework. The objective of the new strategy implemented by the Trump administration is to remove obstacles that have slowed the development of the digital economy.
The administration intends to clarify ambiguous tax regulations by modifying IRS guidance. The new position taken by the Trump camp is a stark contrast to the recent years’ aggressive regulatory push. Trump’s plan would recognize the value of digital currencies and not view them as a potential threat. The Trump administration wants to make the United States a better place for blockchain innovation and crypto investment by doing this.
More on Cryptocurrency Regulation
According to a recent map produced by River, global Bitcoin regulations have largely shifted toward greater acceptance since 2020, with 47 out of 51 nations expanding access. This includes 34 countries approving Bitcoin ETFs or ETPs, the United States allowing banks to custody Bitcoin in 2025, and countries like Russia, Hong Kong, Turkey, and Nigeria allowing it to be used or paid for between 2023 and 2024. Altcoin Buzz does not provide financial advice with the information it discusses.
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