US crypto reserve no substitute for SEC clarity — Industry exec
Adding altcoins to the national reserve also increases centralization risk, one analyst said.
US President Donald Trump’s plans for a strategic cryptocurrency reserve are good news for the industry, but they are no substitute for clearer regulation, Patrick Young, go-to-market lead at Web3 app Galxe, told Cointelegraph on March 3.
In a March 2 post on the social media platform Truth Social, Trump said he told his administration’s digital assets working group to include XRP (XRP), Solana (SOL) and Cardano (ADA) in a US government crypto stockpile.
He later added Bitcoin (BTC) and Ether (ETH) to that list, stating they would be at the “heart of the reserve.”
Adding altcoins to the national reserve also increases centralization risk, one analyst said.
US President Donald Trump’s plans for a strategic cryptocurrency reserve are good news for the industry, but they are no substitute for clearer regulation, Patrick Young, go-to-market lead at Web3 app Galxe, told Cointelegraph on March 3. In a March 2 post on the social media platform Truth Social, Trump said he told his administration’s digital assets working group to include XRP (XRP), Solana (SOL) and Cardano (ADA) in a US government crypto stockpile. He later added Bitcoin (BTC) and Ether (ETH) to that list, stating they would be at the “heart of the reserve.”Read more