Crypto investors hopeful amid new regulatory orders

Key Points

1. President Trump's executive order directs the Labor Department to reexamine fiduciary responsibilities regarding alternative assets, including cryptocurrencies.

2. The order also targets 'debanking' practices, directing the development of a strategy to combat politicized and unlawful exclusion of customers based on political beliefs.

3. Crypto markets showed initial positive reactions, with BTC and ETH experiencing gains before paring some of them back.

4. Hedge funds and private equity firms have 180 days to complete evaluations and provide recommendations on the new directives.

5. The executive orders are seen as a positive step for crypto, but finalizing rules and implementing changes will likely take time.