This Week in Crypto: Key Developments Shaping the Industry
The cryptocurrency landscape is abuzz with pivotal developments in the United States. Former President Donald Trump has reportedly signed an executive order aimed at establishing a Bitcoin reserve, while also exploring measures to ease banking restrictions for crypto firms, according to Circle’s CEO. In a landmark decision, a US court has ruled against the sanctions on Tornado Cash, signaling potential shifts in regulatory attitudes. Meanwhile, the SEC has abolished the controversial SAB 121 rule, empowering banks and corporations to legally custody cryptocurrencies. Venture capital giant Andreessen Horowitz, which had shifted focus overseas amid the 2023 regulatory crackdown, is now refocusing its crypto initiatives in the US. These events underscore a dynamic and evolving regulatory environment, offering renewed optimism for the future of crypto innovation in America.
Review of the past week:
| January 21, 2025 |
Trump May Sign Executive Order to Ease Bank Involvement in Crypto, Says Circle CEO. Circle CEO predicts Trump will enable banks to trade and hold cryptocurrencies. Read more |
| January 22, 2025 |
US court rules against Tornado Cash sanctions. A previous Appeals Court ruling found that the Treasury Department overstepped its authority by sanctioning the crypto mixer. Read more |
| January 23, 2025 |
The SEC has abolished the SAB 121 rule. |
| January 24, 2025 |
Donald Trump Signs Executive Order for Bitcoin Reserve. This also confirms the total ban on Central Bank Digital Currencies (CBDC). Read more |
| January 26, 2025 |
Andreessen Horowitz Refocuses Crypto Efforts in US. In 2023, America’s cryptocurrency crackdown caused venture capital firm Andreessen Horowitz to look overseas. Read more |
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FYBIT team
