On the third day of assuming the presidency of the United States, Donald Trump signed an executive order for the creation of a working group on cryptocurrencies responsible for putting New regulations on digital assets and explore the creation of a national cryptocurrency reserve.
“The growth of digital financial technology in the United States should not be hindered by restrictive regulations or unnecessary government interference,” added a white house statement.
White House. The United States Market and Securities Commission (SEC), revoked that same night a measure created in 2022 by the administration of former president Joe Biden and known as Saber 121. With her, numerous transaction platforms for digital currencies had been sanctioned with the purpose of protecting US citizens from fraud and money laundering.
UNITED STATES: What is Saes 121?
SAB 121 (Staff Accounting Bulletin 121) demanded that companies guarded digital assets such as liabilities in their balances, which implies higher capital costs and reserves to mitigate risks associated with cryptocurrencies. According to the same statement, he abolished innovation and undermined the economic freedom of the USA and global leadership in digital finances.
Cryptocurrency money laundering
“Cryptocurrencies can be a mechanism that can be used to launder money,” said Pablo Leno, general manager of Income4 Peru Sab, to the Republic.
Today, it is an anonymous market that can be used to clean money from doubtful reputation. In addition, in recent years he had purposes for terrorist financing or illegal activities, Gustavo Cam, CEO of Tulkit Pay, a multimoned Peruvian wallet agreed.
This is mainly due to the power they have in the cross -border movement of funds. However, CAM emphasized this newspaper that these resources should always become Fiduciary assets.
That is, eventually cryptocurrencies must become dollars, soles, euros or others to be used. This conversion process requires liquidity suppliers, such as exchanges or exchange platforms, and that is where the money movement can be traced and regulate.
In addition, in Latin America there are specific regulatory measures that prevent money laundering and terrorist financing using cryptocurrencies, such as Kyc (Know Your Customer), Roas (Return on Advertising Spend) applied to new projects and tokens promotion campaigns, AFIP ( Federal Public Revenue Administration) in Argentina, GAFI (International Financial Action Group), FIX (Financial Intelligence Unit) and the last sanction of the Superintendence of Banking, Insurance and AFP (SBS) In Peru.
Cyber attacks
The reality is that, at the technical level, current cryptocurrencies are practically Inhackeables. This is due to the elliptical curve encryption technology they use, which makes a person almost impossible to disregard the information without the appropriate key.
According to experts, the only exception would be through the use of a Quantum computer. And it is that the system is based on two keys: the private key, which acts as a password; and the public, similar to a bank account number.
In that sense, hackeos are given by the error that users would be making by storing their private keys or mnemonic phrases in Internet connected devicessuch as computers or mobile phones, which are susceptible to vulnerabilities.
Massive crypto adoption, a lie?
The president of the future “cryptographic capital of the planet” shares affinities with the president of Argentina, Javier Milei, and the President of El Salvador, Nayib Bukele. It was the latter who made history by declaring Bitcoin as legal tender and, in his administration, promise to create a Bitcoin National Reserve.
The Republic contacted El Salvador informants to find out the current situation of the country and how its market with cryptocurrencies works in its pocket.
“80% of the funds deposited in the ‘Cold Wallet’ (El Salvador vault) belong to Bitfinex, a company directed by Italians with high influence in the government,” said Salvadoran journalist, Moisés Alvarado, to this newspaper.
The transactions associated with the address published in X by Bukele on the Blockchain.com consultation website compile the directions of the origin of the funds.
On January 20 when Trump assumed the presidency he reached a new record with US $ 109,000 in value. Photo: TrainingView
According to Alvarado’s research conducted for the newspaper today, the most read in the neighboring country, this is how it can be verified that only 20% of the bitcoin that were transferred to that direction came from the ecosystem of the ecosystem of the WALLET GOVERNMENT GOVERNMENT BALLETER. However, this would not have arrived directly, but through a bridge shipment to another address of an unknown owner, according to what is reported by the Salvadoran media on March 12, 2024.
The University Institute of Public Opinion (Iudop) of El Salvador explained that last year only 8.1% of Salvadorans used Bitcoin to buy or pay, while 91.9% not (76.2% had not used it in 2024 and 15.7% never used it). Also, from 2021 to 2024 almost 80% of Salvadorans say that Bitcoin has had no effect on its family economy.
“Everything has been a political strategy to show something we don’t have or work,” said Alvarado.
The failure of Bitcoin’s bet in El Salvador states that it does not have the real impact that Nayib Bukele says. However, the United States could make a different story, confirmed and complemented a specialized source of El Salvador that preferred to maintain anonymity.
The current concern in the neighboring country is that the general budget of the Nation for 2025 cuts US $ 90.8 million to the health sector and US $ 31 million to education, while 12,000 work places in the public sector were suppressed in said budget as a austerity measure.
No more gold
However, the insistence on the adoption of cryptocurrencies also in public funds by Donald Trump and his appointed Cryptocurrency Tsar and Artificial Intelligence of the White Houseas well as the presidents of El Salvador and Argentina, it is summarized in a word: gold.
“What happens is that Fiat currencies have inorganic emissions; That is, it has no gold support. They continue to devalue themselves. And just last December, China located the largest gold deposit in the world, ”explained Pablo Leno.
Governments that develop their strategies with a 50 -year vision are preparing for a critical river scene. In this context, Bitcoin emerges as an alternative of refuge in the face of mass devaluation. In addition, the amount of gold recovered by the Popular Bank of China is an impulse for an USA.
Peruvian scenario
According to Gustavo Cam, the massive adoption of these technologies in the country depends on financial education, regulation and user experience.
“Today, entering the crypto world is complex. We seek to simplify it, integrating traditional finances with cryptocurrencies so that the user can use their assets in their day to day, as in a tambo or an Oxxo, through cards, ”he explained.
About the photo of Mayor of Lima, Rafael López Aliagawith David F. Bailey, CEO of Bitcoin Magazine, commented that there is no information about whether his procriptic position will use it during the 2026 presidential campaign.
Peruvian regulations
In the country, the SBS resolution No. 02648-2024 approved the norm for the prevention of money laundering and the financing of terrorism applicable to the Virtual Assets Services Suppliers (PSAV), under the supervision of the FIU-Peru.
Likewise, Supreme Decree No. 006-2023-JUS expands the list of subjects obliged to provide information to the FIU Peru in case of exchange between Digital assets and Fiat coins or legal year, exchange between one or more forms of virtual assets, transfer of virtual assets, custody and/or administration of virtual assets or instruments that allow it, participation and provision of financial services related to the offer of an issuer and/or sale of a virtual asset
Memecoin Trump
- The memecoin of the Trump, Tru and LNI family were thrown at the Solana blockchain a few days before the inauguration. In 48 hours, the first reached a historical maximum of US $ 73.43; However, he stung after the president admitted that “he didn’t know much about it.”
- Tsar David Sacks compared Donald Trump’s memecoin with a collectible. “People buy it because they want to commemorate something,” said Fox News on January 23.
Trump’s Prompt Promises and Policies
According to Ignacio Gimenez, business director at Lemon, a platform present in five countries in the region, the crypto ecosystem is expectant to Donald Trumpbacked by a mostly republican legislative power, can comply with:
- Elimination of restrictive regulations to allow banks to offer cryptocurrency custody services and not as liabilities in their balances (SAB 121), and thus encourage the active participation of large institutions.
- Impulse to Bitcoin mining: promoting mining in the United States would not only reinforce the infrastructure of the digital asset, but could position the country as a global provider in blockchain technology.
- New Cryptocurrency TF in the market: the approval of the BTC and ETH ETF and ETH opened the doors to the traditional financial market can invest in crypto. Today Bitcoin and Ethereum are approved, but there is already news about the approval of these traditional tools for Solana and XR.
- Creation of a Bitcoin strategic reserve: this means that instead of saving gold in the banks, the country could store bitcoin as strategic asset of value reserve and would send a forceful signal of institutional support to the digital asset
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
