Analyst: US cryptocurrency reserves cannot replace clear guidance from the SEC

Here is the English translation: The news from Mars Finance indicates that US President Donald Trump's plan for a strategic Altcoin reserve is good news for the industry, but it cannot replace more explicit regulation, according to Patrick Young, the marketing manager of the Web3 application Galxe, who spoke to Cointelegraph on March 3. In a post on the social media platform Truth Social on March 2, Trump stated that he has instructed his government's digital asset working group to include XRP, Solana and Cardano in the US government's Altcoin reserve. He subsequently added Bit and Ethereum to the list, stating that they will be at the "core of the reserve". Trump has been promoting the plan to establish a US strategic Altcoin reserve since mid-2024. Trump's statement caused the prices of the Altcoins mentioned in his post to rise briefly. Bit rebounded to over $90,000 before slightly retreating to around $87,000 at the time of posting. ADA rose by over 40% in the first 24 hours after Trump's announcement. "The regulation that we all hope for, and that is more favorable for the industry, may become a long-term driver of Altcoin performance," Young said. Trump has appointed industry-friendly leaders to key regulatory positions, including the Securities and Exchange Commission (SEC). The agency has pushed through several US Altcoin product applications that had stalled under the previous administration. "Everyone in the Altcoin industry is looking forward to seeing what the new leadership of the US Securities and Exchange Commission will bring, especially in terms of clear guidelines on what constitutes a security," Young said. In February, the Securities and Exchange Commission stated that stablecoins may not fall under the category of securities. Trump's inclusion of Altcoins such as XRP and ADA in the plan has sparked "accusations that Trump may be trying to increase his own Altcoin wealth through this move," Young added. Trump has accumulated various Altcoins through entities under his control. According to Adam O'Brien, CEO of the Altcoin education platform Bitcoin Well, this also exposes the planned Altcoin reserve to the risk of centralization. "If we're going to choose centralized assets, why not include blue-chip stocks?" O'Brien told Cointelegraph, adding, "When we move towards centralized assets and away from protocols, we're on a slippery slope."