The United States and its 47th President, Donald J. Trump, have made their move towards the massive changes in the cryptocurrency industry which began with the full pardon given to Silk Road’s creator, Ross Ulbricht. Next up, the POTUS has also signed his first cryptocurrency policy for the United States which are tasking a new working group that will focus on the much-awaited crypto regulations in the country.
Also, check out the latest changes in the entire cryptocurrency industry with the latest prices of the top coins in the market, particularly as it saw a massive rally last week but led to a massive dive over the weekend.
Trump Pardons Silk Road Creator, Ross Ulbricht, As Promised
One of the largest news last week is with Donald Trump fulfilling a promise he made to the cryptocurrency and the Libertarians which supported him during his campaign, by giving Ross Ulbricht a full, Presidential pardon for his crimes. In his second day in office, President Trump gave Ulbricht’s mother the good news by letter her know that her son is no longer serving time in prison as he was pardoned by the newly-inaugurated President.
Ulbricht has already served 10 years in prison after being convicted in 2015, but his sentence was far from over as he was given double life sentences for creating the dark web marketplace that allowed users to use crypto and buy illicit services via the platform.
According to Bloomberg, this was part of the ‘Free Ross’ campaign which the Libertarians rallied for in the past decade, with their massive support for Trump earning them this significant action from the country’s leader.
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First Crypto Policy Signed By Trump For Regulation
After pardoning Ulbricht, President Trump’s next move for the cryptocurrency industry is directly related to its future in the United States, particularly as the leader signed the first policy to help the blockchain thrive. Trump finalized the first move towards making cryptocurrency more apparent in the country by signing a policy that would help with the crypto regulations, as promised.
Reuters reported that with this recent policy from Trump, there is now a new working group which are designated to focus on creating cryptocurrency regulations that would help the country adopt more of the blockchain industry.
However, there are still no specifics on what Trump and his working group has in mind for the first crypto regulations that will come from this effort, but all their work are focused towards gearing up the industry’s more apparent presence in the market.
Top Crypto Prices and Their Latest Changes
While comparing to the state of crypto from the past weeks, this incoming last week of January saw an almost similar valuation in the market, but these figures faced a grueling crash. First off, the crypto market was seen to be rebounding from its poor performance at the start of the year, and only last week, there was a rally which helped improve its prices, including a new all-time high for Bitcoin at $109,000.
The rankings also saw two changes where XRP usurped Tether’s long reign at the top three as it now as over $20 billion more in terms of market cap, while Solana also took the fifth spot from Binance Coin (BNB).
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