Crypto needs policy change more than Bitcoin reserve

The cryptocurrency industry will benefit more from US regulatory clarity than from President Donald Trump’s plan to create a national Bitcoin (BTC) reserve, several cryptocurrency executives told Cointelegraph.

Trump’s March 6 executive order creating a US strategic Bitcoin reserve and a separate digital asset stockpile for altcoins left crypto industry executives underwhelmed.

Meanwhile, they are still waiting for the White House to provide detailed guidance on issues like securities regulation and taxation, the executives said.

“Markets expect a roadmap for innovation and clear guidelines on stablecoins, institutional adoption and taxation,” Max Giammario, CEO of Web3 artificial intelligence startup Kindred, told Cointelegraph.

“Instead, the vague rhetoric and lack of immediate action only deepened uncertainty.”

*Trump signed a crypto executive order on March 6. Source:* *Margo Martin*

Campaign promises

In July, Trump promised to turn America into the “world’s crypto capital” and create a US Bitcoin reserve akin to the nation’s gold stockpile.

Trump’s March 6 executive order delivered on his campaign promise but left traders disappointed.

Instead of instructing the US government to buy crypto, the reserve and the stockpile will initially only comprise digital assets seized by law enforcement.

Bitcoin is down approximately 13% from March 6 as traders react to the news amid a backdrop of macroeconomic uncertainty.

Altcoins have clocked similar losses, with the total crypto market capitalization shedding more than $400 million.