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ARTICLE · 03 FEBRUARY 2025

3 Key Developments For The Crypto Industry In Week 1 Of The New US Administration

Hughes Hubbard & Reed LLP
Hughes Hubbard & Reed LLP
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Hughes Hubbard & Reed LLP

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As anticipated, the new U.S. administration, and the Securities and Exchange Commission under fresh (albeit acting) leadership

United StatesTechnology
Amina Hassan
Amina Hassan
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January 2025 – As anticipated, the new U.S. administration, and the Securities and Exchange Commission under fresh (albeit acting) leadership, have quickly signaled a more crypto-friendly stance than the previous administration. Three key developments from the first week of the new administration underscore this paradigm shift.

1. On Jan. 23, the White House issued the Strengthening American Leadership in Digital Financial Technology executive order,1 to "promote United States leadership in digital assets and financial technology." The order creates the President's Working Group on Digital Asset Markets, chaired by David Sacks, the President's AI and Crypto Czar, and consisting of representatives of various federal agencies including the SEC, Commodity Futures Trading Commission, Treasury Department and Department of Justice. The executive order establishes the following timeline for the Working Group:

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