Is Court Hindering Crypto Rise?

On May 7, U.S. President Donald Trump once again aimed at the country’s judicial system for not letting him do the job for which he was elected. 

He pointed out court’s interference is holding back key reforms, possibly including his administration’s efforts to regulate the crypto industry. 

While Trump did not mention cryptocurrency directly, his complaint that “activist judges” are preventing his administration from doing the job it was “elected to do” is raising concerns about whether crucial policy initiatives and reforms like crypto regulation. 

Trump stated in the post, “Activist judges must let the Trump Administration deport murderers, and other criminals who have come into our Country illegally, WITHOUT DELAY!!!”

Trump’s 100-Day Crypto Impact

After the departure of the hostile administration, the crypto community is expecting a clear regulatory framework under Donald Trump’s pro-crypto administration. It’s been over 100 days, but this promise has yet to be fulfilled.

However, President Donald Trump has made a strong push to support the crypto industry. During his election campaign, he promised to make the U.S. “the crypto capital of the world,” and many in the crypto space believe he’s off to a fast start. 

Trump took quick action with executive orders and key appointments. He created a Strategic Bitcoin Reserve, though it was later limited to just bitcoin after some public criticism. His team also rolled back strict SEC rules that had made it hard for crypto firms to operate freely. 

New leaders at major agencies, like the SEC and FDIC, have shown clear support for cryptocurrency. The SEC even dropped its long-running lawsuit against Ripple and started working with industry leaders to create fairer rules. 

However, Trump and his family’s crypto ventures caught the attention of many critics. Some of them raised eyebrows when Trump launched a meme coin that boosted his net worth and promised private dinners to top holders. 

On May 6, Representative Maxine Waters walked out of a hearing on the crypto’s future to protest against Donald Trump’s crypto corruption.  

Also Read: New Hampshire Passes Bitcoin Reserve Bill, Becomes First State