The start of President Donald Trump’s term earned rave reviews at the world’s leading crypto conference Wednesday, but top industry lawyers said digital platforms wanted regulatory clarity while the Republicans control Congress.
“It’s been a very encouraging three months across the board,” said Lewis Cohen, a digital asset attorney with the New York-based firm Cahill Gordon & Reindel, during his remarks at Consensus, the world’s longest-running cryptocurrency conference, held this year in Toronto.
Among the high-profile attendees is Eric Trump, who is scheduled to speak at the event on Thursday. His appearance comes amid growing scrutiny over potential conflicts of interest tied to his father’s return to the White House.
Eric Trump has become a prominent figure in the crypto space, with direct business involvement as a co-founder and executive at American Bitcoin. He also plays a key role in family-affiliated ventures such as World Liberty Financial and the $TRUMP meme coin.
The $TRUMP token recently surged in value following an announcement that top holders would receive invitations to a private dinner with Donald Trump, planned for May 22 at Trump National Golf Club near Washington, D.C.
Crypto investors in the U.S. were major financial backers of Trump’s presidential bid, donating millions with hopes that his administration would reverse the regulatory skepticism that marked the Democratic tenure under President Joe Biden.
Many at the conference expressed clear dissatisfaction with Biden’s leadership. Annemarie Tierney, a regulatory specialist with Liquid Advisors and a former official at the Securities and Exchange Commission (SEC), suggested that Trump’s presidency could help “reset the relationship” between Washington and the crypto industry.
Under Biden, the administration had imposed limits on banks holding digital assets and allowed former SEC Chair Gary Gensler to pursue an aggressive enforcement strategy.
In contrast, Trump’s newly appointed SEC Chair, Paul Atkins, has moved to dismiss several high-profile enforcement actions against major crypto platforms such as Coinbase and Kraken — actions originally initiated during the Biden era. “This is one of the most significant steps the SEC has taken… I never thought I’d see this,” Tierney remarked.
