President Trump to Sign Executive Order Lifting Cryptocurrency Restrictions
U.S. President Donald Trump is expected to sign a new executive order this week that would overturn the Biden administration’s “Operation Choke Point 2.0” policy and potentially clarify that stablecoins are not securities.
Acting SEC Chair Moves to Repeal Crypto Asset Regulations
The SEC had proposed expanding the definition of “exchange” to include crypto-related businesses, requiring them to register. However, after strong opposition from the crypto industry, the acting chair is considering withdrawing the proposal, indicating a possible shift in the regulatory direction for the cryptocurrency industry.
Nasdaq Plunges Nearly 4% Amid Tariff War Concerns
On March 10, the Nasdaq Composite Index plummeted nearly 4%, hitting a six-month low. The sharp decline was primarily driven by fears that Trade War 2.0 could lead to an economic slowdown.
Fed May Consider Rate Cuts in June to Address Recession Risks
Institutional analysis suggests that a rate cut by the Fed next week is unlikely. However, if recession concerns related to the trade war intensify and materialize, the Fed may start cutting rates rapidly from June to mitigate economic risks.
Deutsche Bank Warns Trump’s Bitcoin Reserve Plan Could Increase Market Volatility
Deutsche Bank analyst Marion Laboure stated that Trump’s proposed Bitcoin reserve plan, due to its lack of clear and specific policy details, could maintain or exacerbate volatility in the crypto market.
UK Treasury: Bitcoin Unsuitable as a Reserve Asset
On March 10, a UK Treasury spokesperson stated that Bitcoin’s high volatility makes it unsuitable as a reserve asset. The UK currently has no plans to adopt Bitcoin reserves.
