Integrating Financial Technology Innovation Into Regulatory Frameworks

Executive orderRegulation easedSigned 05/19Federal Register 05/22Executive Order 14405Open the original

Summary

President Trump makes it policy to update federal regulations so digital assets and innovative technology can be integrated into traditional financial services and payment systems, and to remove burdensome rules that act as barriers to entry for fintech firms.

By industry

Crypto & Digital Assets1 trading day+0.7%p15 stocks5 trading days+8.0%p15 stocks20 trading days+8.3%p15 stocks
“update regulations to allow integration of digital assets and innovative technology into traditional financial services and payment systems”

Day by day after the announcement

Crypto & Digital Assets stocks and the S&P 500 after the announcement, cumulative %
Day	Crypto & Digital Assets stocks	S&P 500
26/05/18	0.0%	0.0%
26/05/19	−0.1%	−0.8%
26/05/20	+3.0%	−0.1%
26/05/21	+8.1%	+0.5%
26/05/22	+7.1%	+0.8%
26/05/26	+9.6%	+1.5%
26/05/27	+12.3%	+1.6%
26/05/28	+13.7%	+2.1%
26/05/29	+14.7%	+2.3%
26/06/01	+15.6%	+2.3%
26/06/02	+13.0%	+2.7%
26/06/03	+8.8%	+1.5%
26/06/04	+8.5%	+2.2%
26/06/05	−2.0%	−0.5%
26/06/08	+4.7%	−0.1%
26/06/09	+1.8%	−0.4%
26/06/10	−3.1%	−2.1%
26/06/11	+4.5%	−0.0%
26/06/12	+6.7%	+0.4%
26/06/15	+10.7%	+1.9%
26/06/16	+9.8%	+1.5%

Korean stocks in these industries

NAVER 035420
Hanwha Investment & Securities 003530
Woori Technology Investment 041190
Wemade 112040

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Meyer MalkaDirector
BuyRobinhood Markets
Buy
Robinhood Markets
HOOD
$20.2M
250,000 sh
$20.2M
Filed 06/09
Traded 06/05
Meyer MalkaDirector
BuyRobinhood Markets
Buy
Robinhood Markets
HOOD
$20M
249,000 sh
$20M
Filed 06/01
Traded 05/28
Meyer MalkaDirector
BuyRobinhood Markets
Buy
Robinhood Markets
HOOD
$15.1M
181,000 sh
$15.1M
Filed 06/03
Traded 06/03
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$497
5 sh
$497
Filed 05/26
Traded 05/22
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$4,971
50 sh
$4,971
Filed 05/26
Traded 05/22
Thomas C. ChowEVP & General Counsel
BuyStrategy
Buy
Strategy
MSTR
$727
11 sh
$727
Filed 06/17
Traded 06/16
Thomas C. ChowEVP & General Counsel
BuyStrategy
Buy
Strategy
MSTR
$9,271
100 sh
$9,271
Filed 06/17
Traded 06/16
Michael AlfredDirector
BuyBakkt
Buy
Bakkt
BKKT
$3M
365,000 sh
$3M
Filed 05/18
Traded 05/15
Michael AlfredDirector
BuyBakkt
Buy
Bakkt
BKKT
$1.8M
220,000 sh
$1.8M
Filed 05/18
Traded 05/18
Michael AlfredDirector
BuyBakkt
Buy
Bakkt
BKKT
$1.4M
180,000 sh
$1.4M
Filed 06/11
Traded 06/09
Michael AlfredDirector
BuyBakkt
Buy
Bakkt
BKKT
$783K
100,000 sh
$783K
Filed 06/11
Traded 06/10
Patrick Sean NevilleDirector
Sell10b5-1 planCircle Internet Group
Sell10b5-1 plan
Circle Internet Group
CRCL
$35.8M
431,451 sh
$35.8M
Filed 06/09
Traded 06/08
Patrick Sean NevilleDirector
Sell10b5-1 planCircle Internet Group
Sell10b5-1 plan
Circle Internet Group
CRCL
$28.8M
350,223 sh
$28.8M
Filed 06/09
Traded 06/08
Patrick Sean NevilleDirector
Sell10b5-1 planCircle Internet Group
Sell10b5-1 plan
Circle Internet Group
CRCL
$21.2M
252,722 sh
$21.2M
Filed 06/09
Traded 06/08
Le PhongPresident & CEO
Sell10b5-1 planStrategy
Sell10b5-1 plan
Strategy
MSTR
$1.9M
16,303 sh
$1.9M
Filed 06/05
Traded 06/05
Le PhongPresident & CEO
Sell10b5-1 planStrategy
Sell10b5-1 plan
Strategy
MSTR
$1.9M
15,954 sh
$1.9M
Filed 06/05
Traded 06/05
Le PhongPresident & CEO
Sell10b5-1 planStrategy
Sell10b5-1 plan
Strategy
MSTR
$1.9M
15,892 sh
$1.9M
Filed 06/05
Traded 06/05
Le PhongPresident & CEO
Sell10b5-1 planStrategy
Sell10b5-1 plan
Strategy
MSTR
$1.5M
13,149 sh
$1.5M
Filed 06/05
Traded 06/05
Le PhongPresident & CEO
Sell10b5-1 planStrategy
Sell10b5-1 plan
Strategy
MSTR
$1.2M
10,719 sh
$1.2M
Filed 06/05
Traded 06/05
Bitfury Holding B.V.10% Owner
SellCipher Digital
Sell
Cipher Digital
CIFR
$30.1M
1,146,445 sh
$30.1M
Filed 06/04
Traded 06/03