What will President Trump's second term mean for cryptocurrency?

With President Donald Trump back in office, he is expected to be a promoter of cryptocurrency during his second term.

What is cryptocurrency?

Big picture view:

Cryptocurrency is, in essence, a digital form of money.

Merriam-Webster defines cryptocurrency as "any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions."

The National Institute of Standards and Technology has a more technical definition: "a digital asset/credit/unit within the system, which is cryptographically sent from one blockchain network user to another."

Why you should care:

President Trump already has a stake in cryptocurrency, in fact, releasing a meme coin called "Trump." First Lady Melania Trump has released one, as well.

What they're saying:

Ryan Horst, CEO and founder of Altcoin Pro, believes Trump's support will be good news for his industry, adding it's already creating a buzz in the cryptocurrency community.

"We might not have regulatory clarity right now, but this gives us a nice hint of what regulatory clarity might bring," Horst said.

The Source: Information from this story came from an interview with Ryan Horst, along with information from Merriam-Webster and the National Institute of Standards and Technology.

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