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Donald Trump unveils an aggressive plan to slash 10 regulations for every new one, promising unprecedented deregulation to spur jobs, innovation, and economic growth.
Regulation Overhaul: Trump’s Ambitious 10-for-1 Cut Strategy Explained
U.S. President-elect Donald Trump is gearing up to initiate sweeping regulatory reforms across numerous industries, promising significant changes aimed at boosting economic growth. Speaking on Monday, Trump emphasized his administration’s commitment to reducing regulations he described as harmful to job growth, outlining a bold regulatory approach. He stated:
Already preparations are underway to slash massive numbers of job-killing regulations, eliminating 10 old regulations for every new one. You put a new regulation on, you have to get rid of 10, and we’ll be able to do it.
Reflecting on his earlier term, he added: “We cut more regulations than any president has ever cut by far, actually by approximately five times. Some of those regulations, unfortunately, were put back on, but we’ll catch up very quickly. We’ll catch up with it.”
While Trump did not specifically address cryptocurrency regulations during his remarks on Monday, his recent actions suggest a shift toward a more crypto-friendly regulatory environment. He has voiced support for reducing barriers in the crypto sector, including proposals to establish a strategic bitcoin reserve.
By nominating key advocates for innovation, such as appointing Paul Atkins as the U.S. Securities and Exchange Commission (SEC) Chair and naming a Treasury Secretary favorable to crypto advancements, Trump appears poised to position the United States as a global leader in the digital currency industry. These moves, combined with a surge in bitcoin prices surpassing $100,000, underscore the potential impact of his policies on the sector.
Trump’s broader deregulatory agenda includes appointing Elon Musk and Vivek Ramaswamy to helm the Department of Government Efficiency (DOGE), a newly created body designed to overhaul federal bureaucracy. Musk and Ramaswamy are tasked with cutting regulations, auditing agencies like the IRS, and implementing cost-cutting measures to reduce federal spending. These initiatives align with Trump’s long-standing commitment to minimizing government intervention and fostering economic growth through reduced regulatory burdens.