
In the early days of the Trump administration, the crypto industry experienced a surge of activity that hinted at potential future regulations. One notable development was the indication that cryptocurrencies may not be treated as securities, a sentiment that was met with mixed reactions from industry practitioners.
Despite the initial enthusiasm, many in the crypto space expressed frustration over the lack of clear and concrete regulatory changes that would provide guidance and clarity to the industry. The formation of a crypto task force, Trump's crypto executive order, a lone press conference by crypto czar David Sacks, and the establishment of a digital asset reserve were criticized as mere theatrics without substantial regulatory impact.
However, a closer examination of the cryptocurrency decisions made during the Trump administration revealed a shift in enforcement and regulation that could
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