Trump 2.0 Begins

L . Thomas Block
Key Takeaways
  • President Trump has hit the ground running, beginning his second term with a flurry of executive orders that address a range of issues, including priorities involving immigration and cryptocurrency.
  • The 47th President also quickly reversed the DEI policies put in place by his immediate predecessor.
  • Trump's next priorities will likely focus on disaster relief for North Carolina and California, which in turn will feature in the planning of the GOP legislative agenda.

It has been a busy week in DC as President Trump took the oath of office and immediately jumped into action with Executive Orders that had been well prepared during the post-election transition.  From immigration to crypto, numerous new policies were announced.

Within hours of the swearing-in ceremony in the U.S. Capitol, the new President signed executive orders that declared a national emergency at the Southern border allowing for the positioning of military troops to work with other state and federal officials to stop the flow of illegal immigration at the border.  The President also used his first days in office to reverse DEI policies that had been a hallmark of the Biden years.

President Trump made support of crypto a centerpiece of his campaign and he acted quickly to send a clear signal that the US would be a leader in crypto.

First in a promised dramatic action, he freed Silk Road founder Ross Ulbricht from his criminal sentence of two lifetime terms with no chance of parole.  Ulbricht’s prosecution had become a symbol of government opposition by both political libertarians and crypto world, and his release via an Executive Order and full pardon was widely hailed by his supporters.

Setting the stage for a more friendly crypto policy, the SEC repealed the very controversial policy outlined in Staff Accounting Bulletin (SAB) 121 that required banks to increase capital for custodizing crypto assets.  The President also created a Working Group on Digital Assets with the goal of making the US a leader in the growing space.

In addition to the dramatic executive actions on Friday, the President undertook an inspection trip to North Carolina and California, both areas in need of disaster assistance.  Obviously, the massive aid for dealing with these disasters will require action by Congress, and to start developing a legislative strategy, House Republicans are meeting next week at the Trump Doral Resort to lay out a blueprint for the Republican legislative agenda.

Disclosures (show)