Trump pushes policies supporting cryptocurrencies
The Trump administration has supported the cryptocurrency sector this year, through a series of policies that have accelerated the adoption of technology by financial institutions.
Trump helped pass the GENIUS Act regulating stablecoins, signed executive orders to create a task force for cryptocurrencies, and banned the issuance of a central bank digital currency (CBDC), while overseeing a rollback of numerous regulatory enforcement actions related to the sector.
The administration also created a reserve for Bitcoin and a stockpile of seized digital assets, and the government is currently looking for "financially neutral" ways to acquire more of them.
Bitcoin traded below $90,000 over the weekend as the market absorbed the document, which called on U.S. allies to "contribute much more" to defense.
The strategy asked NATO countries to raise defense spending to 5% of GDP instead of the current 2%, which could lead to increased government borrowing and rising inflation, making it difficult for central banks to lower interest rates.
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