Trump's Crypto Vision Challenged by SDNY's Unruly Actions
Submitted by MAGA Student
Posted 1 day ago
Unruly
Recent actions from the Southern District of New York (SDNY) have sparked significant concern among crypto advocates, particularly those who supported Donald Trump during his tenure as president.
The U.S. Marshals Service has reportedly sold over $6.3 million worth of bitcoin forfeited by Samourai Wallet developers Keonne Rodriguez and William Lonergan Hill. This sale may have contravened Executive Order 14233, which mandates that such assets should remain in the United States’ Strategy Bitcoin Reserve (SBR).
The implications of this alleged violation highlight a troubling disregard for directives established under the Trump administration. Executive Order 14233 clearly states that bitcoin obtained through criminal forfeiture, termed “Government BTC,” must not be liquidated but rather preserved as a strategic resource.
Critics have pointed out that the SDNY’s actions seem inconsistent with the government’s official stance on blockchain technology and digital assets. Under Trump's leadership, the administration was moving towards a more favorable approach to cryptocurrencies and their accompanying technologies. Yet, the actions taken by the SDNY appear to be a backlash from a network of government officials resistant to this forward-thinking perspective.
Notably, the crypto community is expressing confusion over the apparent disconnect between the executive order and the ongoing prosecutions. With the DOJ failing to adhere to the guidelines regarding the treatment of digital currencies, members of this community are questioning whether the vision for a pro-crypto future voiced by Trump during his administration still exists.
President Trump has indicated interest in possibly pardoning Rodriguez, a move that could send a strong signal to the cryptocurrency community that his administration remains committed to protecting innovation and progress in this arena.
Public sentiment appears to reflect this concern, as many in the crypto sector who previously rallied behind Trump's policies are now anxiously awaiting clarity on the administration's commitment to reforming the DOJ's approach toward digital assets.
With Trump's position increasingly fortified within the party, the focus will be on whether he can reign in the SDNY and reassert the principles outlined in his executive order. The future of cryptocurrencies under this administration may hinge on the resolution of this conflict and a strategic re-alignment of the DOJ's priorities.
As the controversy unfolds, it will be crucial for the Republican leadership to stand firm in support of digital innovation and to ensure that their policies align with the expectations of their base, including the vital crypto community.
Sources:
bitcoinmagazine.com
thenationalpulse.com
theblaze.com
Recent actions from the Southern District of New York (SDNY) have sparked significant concern among crypto advocates, particularly those who supported Donald Trump during his tenure as president.
The U.S. Marshals Service has reportedly sold over $6.3 million worth of bitcoin forfeited by Samourai Wallet developers Keonne Rodriguez and William Lonergan Hill. This sale may have contravened Executive Order 14233, which mandates that such assets should remain in the United States’ Strategy Bitcoin Reserve (SBR).
The implications of this alleged violation highlight a troubling disregard for directives established under the Trump administration. Executive Order 14233 clearly states that bitcoin obtained through criminal forfeiture, termed “Government BTC,” must not be liquidated but rather preserved as a strategic resource.
Critics have pointed out that the SDNY’s actions seem inconsistent with the government’s official stance on blockchain technology and digital assets. Under Trump's leadership, the administration was moving towards a more favorable approach to cryptocurrencies and their accompanying technologies. Yet, the actions taken by the SDNY appear to be a backlash from a network of government officials resistant to this forward-thinking perspective.
Notably, the crypto community is expressing confusion over the apparent disconnect between the executive order and the ongoing prosecutions. With the DOJ failing to adhere to the guidelines regarding the treatment of digital currencies, members of this community are questioning whether the vision for a pro-crypto future voiced by Trump during his administration still exists.
President Trump has indicated interest in possibly pardoning Rodriguez, a move that could send a strong signal to the cryptocurrency community that his administration remains committed to protecting innovation and progress in this arena.
Public sentiment appears to reflect this concern, as many in the crypto sector who previously rallied behind Trump's policies are now anxiously awaiting clarity on the administration's commitment to reforming the DOJ's approach toward digital assets.
With Trump's position increasingly fortified within the party, the focus will be on whether he can reign in the SDNY and reassert the principles outlined in his executive order. The future of cryptocurrencies under this administration may hinge on the resolution of this conflict and a strategic re-alignment of the DOJ's priorities.
As the controversy unfolds, it will be crucial for the Republican leadership to stand firm in support of digital innovation and to ensure that their policies align with the expectations of their base, including the vital crypto community.
Sources:
bitcoinmagazine.com
thenationalpulse.com
theblaze.com
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