President Trump’s latest executive order could sideline the Fed and FDIC from overseeing the crypto industry.
Now, many are wondering if this could finally mean the end of Operation Chokepoint 2.0—a policy some believe has been holding back innovation.
This move could change how digital assets are regulated in the U.S. and bring new opportunities for the industry.
Meanwhile, there’s a new project that could gain traction during this period – PlutoChain ($PLUTO).
PlutoChain functions as a Layer-2 project that could expand Bitcoin’s functionalities and upgrade it into more than just a store of value.
Let’s check out all the details and see what’s happening.
US President Donald Trump has signed an executive order that will address banking challenges faced by Web3 companies and clarify digital asset regulations.
The order establishes a working group focused on advancing US leadership in the industry and exploring the creation of a national digital assets stockpile.
Notably, it excludes the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) from participating in these cryptocurrency-focused initiatives.
Caitlin Long, CEO of Custodia Bank, sees this move as potentially ending the trend of “debunking” in the crypto industry.
Under the Biden administration, some crypto firms struggled to access banking services, a situation insiders referred to as Operation Chokepoint 2.0.
The controversy gained traction in 2023 after the collapse of several crypto-friendly banks, with critics accusing the government of pressuring banks to sever ties with crypto businesses.
This executive order also shows a shift in oversight for stablecoin legislation, moving it outside the purview of the central bank.
Trump’s Treasury secretary, Scott Bessent—a billionaire investor and Soros Fund Management partner—will play a key role in shaping this policy direction.
PlutoChain ($PLUTO) could offer a robust solution to some of Bitcoin's traditional challenges through its hybrid Layer-2 technology.
While Bitcoin remains highly secure and decentralized, it could benefit from improvements in speed, scalability, and practical applications. PlutoChain may address these areas while maintaining Bitcoin's core strengths.
One key feature might be significantly faster processing times. Where Bitcoin typically needs 10 minutes for block confirmation, PlutoChain's Layer-2 network could potentially complete transactions in about 2 seconds.
This speed improvement may also help reduce transaction costs, potentially making Bitcoin more practical for everyday use.
The platform could expand Bitcoin's functionality by introducing smart contract capabilities. This might allow developers to create decentralized applications (dApps) on Bitcoin's network - a feature that has traditionally been associated with Ethereum.
Initial testing shows promise - the testnet has demonstrated the ability to handle over 43,200 daily transactions.
Through its Ethereum Virtual Machine (EVM) compatibility, developers may be able to transfer existing Ethereum projects like DeFi platforms, NFT marketplaces, and gaming applications to Bitcoin.
Security remains a priority, with audits conducted by established firms including SolidProof, QuillAudits, and Assure DeFi.
President Donald Trump signed an executive order to address banking barriers for Web3 companies and establish clearer digital asset regulations.
The order excludes the Federal Reserve and FDIC from cryptocurrency initiatives, potentially ending the crypto industry’s debunking issues while shifting oversight for stablecoin legislation away from the central bank.
At the same time, PlutoChain has the potential to transform Bitcoin by overcoming its speed challenges and introducing advanced functionalities like DeFi and NFTs, potentially paving the way for Bitcoin to become more than just a store of value.
Please keep in mind that this article is not financial advice. All crypto tokens are volatile, and trading involves risk. Always do your own research and consult a qualified expert before joining any crypto venture. Mention of any tokens in this article does not guarantee future performance. Statements regarding the future carry risks and are not assured to be updated.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.