President Trump's crypto czar declares a golden age in digital assets.

Bitcoin yawns.

It's Wednesday, February 5th, 2025.

I'm Christine Lee. This is Coiness Daily.

We all want to believe in something.

In Chinese, belief also means trust. We want to trust our systems and each other so we can build a future beyond what we know.

Join us at Consensus Hong Kong, where belief becomes real. Bitcoin shrugging off a number of positive comments from the U.S. government Wednesday morning. U.S. President Donald Trump's

crypto czar, David Sachs, saying Tuesday, a golden age in digital assets will be created, calling

crypto a week one priority for the administration. Sachs, a former PayPal CEO and part of the so-called

PayPal Mafia, will lead a joint working group with Congress to advance crypto legislation. A part of the so-called PayPal Mafia will lead a joint working group with Congress to advance

crypto legislation. A part of the plan was already revealed earlier on Tuesday when details of a

Senate stablecoin bill emerged, setting up U.S. oversight of stablecoin issuers, splitting regulation

between state agencies and federal watchdogs, specifically the Federal Reserve and the Office of the

Comptroller of the currency. Sacks also said Trump asked them to evaluate a Bitcoin strategic

reserve, but not much reaction from Bitcoin price. While it's a reversal in tone from the

previous administration, traders are waiting for more action, less talk. Meanwhile, the U.S. Securities and Exchange Commission's newly created Crypto Task Force

is working to create long-awaited regulatory clarity for the crypto industry.

SEC Commissioner Hester Purse who heads the task force laid out 10 priorities,

including resolving the question of what makes a cryptocurrency a security versus a

commodity and creating a more viable path to registration by modifying the SEC's existing paths.

Other priorities include providing clarity about whether crypto lending and staking programs

are covered by the securities laws and deciding which parts of the market fall outside the SEC's jurisdiction.

...