Core Viewpoint - The article discusses the increasing influence of cryptocurrencies in the political arena, particularly highlighting the support from Republican presidential candidate Donald Trump during the 2024 U.S. elections. The shift in cryptocurrency policy aims to boost the U.S. economy, address government debt issues, and solidify the U.S. position in the global cryptocurrency and blockchain landscape, with anticipated impacts on the international monetary system, financial markets, and regulatory frameworks [1][5][36]. Group 1: Cryptocurrency's Political Influence - The influence of cryptocurrencies has permeated the political domain, especially evident in the 2024 U.S. elections, where both Democratic and Republican teams have shown friendliness towards pro-cryptocurrency lobbying groups [5][6]. - Trump's policy shift towards supporting cryptocurrencies marks a significant turnaround from his previous negative stance, reflecting the growing political and economic importance of the cryptocurrency sector [10][14]. Group 2: Trump's Cryptocurrency Policy Evolution - Trump's attitude towards cryptocurrencies has evolved through three main phases: initial opposition during his first term, a subtle shift in 2022-2023, and a full embrace of cryptocurrency during the 2024 election campaign [11][13][14]. - The introduction of Trump's digital trading cards in late 2022 marked a turning point, leading to a more pragmatic approach towards cryptocurrencies [13][14]. Group 3: Economic and Regulatory Implications - The anticipated "cryptocurrency new policy" under Trump's second term includes appointing pro-cryptocurrency officials and establishing a more favorable regulatory environment for the industry [15][16][20]. - The U.S. government aims to support the development of stablecoins and integrate cryptocurrencies into the existing financial system, which could enhance the dollar's dominance as a reserve currency [20][21][32]. Group 4: Global Financial Order Impact - Trump's cryptocurrency policy is expected to have significant implications for the international monetary system, potentially redefining the role of cryptocurrencies as reserve assets and impacting cross-border payment systems [36][37]. - The policy may also challenge the monetary sovereignty of many countries, particularly developing nations, by promoting the use of stablecoins and cryptocurrencies [39][40]. Group 5: Regulatory Challenges and Cooperation - The rise of cryptocurrencies presents challenges to global financial regulation, necessitating enhanced international cooperation to address issues such as regulatory arbitrage and the risks associated with illicit activities [42][48]. - There is a pressing need for a global regulatory framework for stablecoins and coordinated efforts to manage the cross-border flow of cryptocurrencies [48][49].