FameEX Hot Topics | NYDIG: Crypto Promises May Face Delays as Trump’s Inauguration Approaches

NYDIG’s global head of research, Greg Cipolaro, cautioned in a Jan. 10 research note against expecting immediate changes to cryptocurrency policy, even as President-elect Trump prepares to take office on Jan. 20. While the inauguration has reignited hopes for fulfilling campaign promises, Cipolaro stressed that while some changes might occur quickly, others could take time.

Cipolaro outlined several hurdles to rapid implementation. Key officials still need to be appointed and confirmed by the Senate, after which they will need to assemble their teams. He also noted that critical crypto-related legislation, such as stablecoin regulations and bills defining the roles of securities and commodities regulators, could face delays. With a conservative and free-market-oriented legislature now in place, there may be less willingness to compromise compared to when the Senate was controlled by liberals.

Additionally, Cipolaro highlighted other priorities that could overshadow cryptocurrency initiatives. Issues such as geopolitical conflicts, the budget, debt ceiling negotiations, global trade and tariffs, and immigration are likely to dominate the new administration’s early agenda, potentially pushing crypto policy down the priority list.

Despite this, Cipolaro expressed optimism about Trump’s early appointments to key financial positions, such as the Treasury, Securities and Exchange Commission, and White House digital assets adviser. However, he noted that significant roles at the Commodity Futures Trading Commission, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation remain unfilled. “From what we know so far regarding agencies that matter to crypto and Bitcoin, the appointments appear favorable,” he said.

Cipolaro pointed to one potential immediate action: the creation of a strategic Bitcoin reserve, which he suggested could be enacted via an executive order. A draft proposal for such an order, prepared by a Bitcoin advocacy group, has already circulated on social media. However, Cipolaro warned that an executive order lacks permanence and could be rescinded by a future administration. While optimistic about the long-term potential, Cipolaro advised patience as the new administration navigates competing priorities.

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