US Crypto Reserves Are No Substitute for SEC's ”Clear Regulation”

US President Donald Trump's plan to stockpile bitcoin is no substitute for clear regulation of the industry, a cryptocurrency industry executive said.
On the 3rd (local time), Patrick Young, head of market expansion at Galxe, a Web3 community building platform,
"President Trump's strategic crypto reserve plan is good news for the crypto industry, but it's no substitute for clearer regulation," Young said in a media interview.
"However, this will likely take longer as we are all hopeful that industry-friendly regulation will deliver long-term crypto outcomes," he said. "All
"The crypto community is excited to see what the SEC's new leadership will bring, particularly clear guidance on what constitutes a security," he added.
On the 2nd, President Trump announced through his social media account "Truth Social" that he would be adding XRP to his digital asset working group.
), Solana (SOL), and CalDano (ADA) to be included in the U.S. government's cryptocurrency reserve, and later added Bitcoin (BTC) and Ethereum (ETH).
He added that these cryptocurrencies will be the core of the stockpile. Regarding President Trump's inclusion of altcoins such as XRP and ADA, he said, "President Trump has been investing in his crypto assets.
"There have been accusations that he is trying to boost his income," he said. Meanwhile, President Trump holds a variety of altcoins through entities he controls.