Odaily Planet Daily News Investment bank TD Cowen said that Donald Trump's administration has taken initial steps to show its support for the cryptocurrency industry, but meaningful regulatory clarity is far from immediate.
Trump signed an executive order this week to establish a digital asset market working group, which is tasked with identifying and removing obstacles to cryptocurrency innovation. TD Cowen Washington Research Group said that every president will set up committees and working groups on key issues, which is of great symbolic significance because this move reflects that the Trump team will prioritize cryptocurrency, but unlike rule changes, it will take years, not weeks, to formulate the rules needed for the crypto industry. (TheBlock)