Following Trump's inauguration, SEC Chairman Gary Gensler resigned, and Paul Atkins has been nominated as his successor, pending congressional confirmation.

In a notable shift in enforcement priorities, the SEC closed investigations into several major crypto firms, including Robinhood and OpenSea, without pursuing enforcement actions.

Additionally, the SEC agreed to dismiss the lawsuit against Coinbase, which had been accused of operating as an unregistered securities exchange.

A Senate hearing on 'debanking' has also raised discussions about the exclusion of the crypto industry from banking services, with Federal Reserve Chairman Jerome Powell indicating a willingness to address these issues.

Since taking office on January 20, 2025, President Trump has initiated significant changes in U.S. cryptocurrency regulation, creating a dynamic market environment.

The SEC formed a Crypto Task Force on January 21, 2025, chaired by Commissioner Hester Peirce, to develop a clear regulatory framework for crypto assets.

Trump's plans for U.S. cryptocurrency strategic reserves, including Bitcoin and other major cryptocurrencies, have sparked mixed market reactions due to their funding source from asset forfeiture.

Overall, Trump's early presidency has seen a series of pro-crypto regulatory changes, though the market remains cautious about the future of U.S. cryptocurrency leadership.

On January 23, Trump signed an executive order establishing the President's Working Group on Digital Asset Markets, which aims to provide regulatory clarity and prohibit the use of central bank digital currencies (CBDCs).

This Working Group is tasked with identifying existing regulations affecting digital assets and proposing changes within 180 days to create a federal regulatory framework.

These developments reflect the Trump Administration's intention to significantly relax or eliminate cryptocurrency regulation and enforcement.

There is a growing surge in ETF applications for various cryptocurrencies, with analysts predicting a high probability of approval for specific altcoin ETFs in the near future.