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Trump’s crypto task force should work with as much enthusiasm as DOGE

Opinion by: Kadan Stadelmann, chief technology officer, Komodo Platform

The Crypto Task Force held a press conference in early February 2025. It struck the wrong tone. While the task force gave lip service to regulatory clarity, the goal seemed to placate the crypto industry, not bring about change that empowers individuals. 

On Jan. 23, the president established a working group for digital assets to propose a federal regulatory framework around issuing and operating digital assets, including stablecoins and a Bitcoin reserve. These goals must be expanded upon, and it seems they are, as the development of a strategic reserve is now underway.

Instead of perpetuating the same discussion on “regulatory clarity” that the industry has been having with officials for years, the task force should take a similar approach to crypto matters as the Department of Government Efficiency (DOGE), which has been working in feverish haste to cut federal agencies and programs that it has deemed wasteful.

What the force should do

Instead, the Crypto Task Force should expose the perils of central bank inflationary money that puts humanity on a neverending treadmill toward desperation. It should cultivate a spirit of competition and adopting decentralized, permissionless currencies. 

The Task Force should persuade lawmakers to adopt a laissez-faire crypto structure while effectively stamping out the rampant fraud by the truly bad actors who exploit people’s false hopes of quick riches. The Crypto Task Force should put out press releases warning people about obvious scams. It should also teach people the virtues of proof-of-work and the follies of many proof-of-stake coins. 

The goal of Trump’s crypto task force should be simple: Establish a freedom-focused growth trajectory for the crypto industry in the US without delay. 

The freedom age 

Trump has clarified that he wants to promote the responsible growth and use of crypto. Such recommendations only hold as much merit as they grant entrepreneurs the freedom to take risks and curtail massive corporations from rolling out a digital panopticon with centralized cryptocurrencies

Recent: SEC task force continues meeting with firms over crypto regulations

If the US is to be competitive with countries like the United Arab Emirates, the US must create a regulatory sandbox that enables founders to develop technology — including controversial technologies like decentralized coin mixers — in legal gray areas without the fear of prison or jail time so long as they are not blatantly breaking pre-existing law. 

It’s time to let the market decide

Before Trump was elected, US crypto founders contended with seemingly arbitrary Securities and Exchange Commission witch hunts, which have ensnared even the most respected crypto institutions, such as Coinbase and Kraken

The SEC went after Ripple for issuing an alleged unregistered security, but Ripple enjoyed significant wins in that case, especially when selling tokens to institutions. Countless founders have been de-banked in the US for having founded even crypto-adjacent companies. That suggests there has been an all-out war by Washington and big banks against the industry. That has to end, and the damage that has been done must be repaired. The Crypto Task Force cannot protect big banks against crypto. It must let the market decide.

Although many suits have been dropped, lawmakers have their work cut out for them. So much has changed since the 20th century, when the US was a world leader in the development of the internet. It has fallen far behind in crypto. 

What the US needs now is innovation, not crypto red tape. The world has Anti-Money Laundering (AML) and Know Your Customer (KYC) laws. The Crypto Task Force mustn’t waste time developing a separate set of AML and KYC laws. Instead of studying the feasibility of a Bitcoin reserve, just put the Bitcoin confiscated from Ross Ulbricht, founder of the Silk Road, under the management of the Treasury and call it a day instead of selling it. 

The Crypto Task Force must work now to build a renewed spirit of technological innovation in the United States. Countries in Asia have demonstrated a higher level of participation at the retail level. The US needs a strategy to educate and empower the retail investing public to partake in exciting and new markets like blockchain and AI. The US must switch from a conservative approach to crypto toward a progressive approach akin to what we’ve seen in the UAE.

The US has already suffered a brain drain, as entrepreneurs have left to pursue opportunities in friendlier jurisdictions. If the US had developed a welcoming Bitcoin approach, El Salvador could have never attracted talent from the US.

Too much freedom has already been lost in the US. The Trump administration must unleash the crypto-anarchists with the enthusiasm of DOGE in the spirit of some of the US’s greatest freedom thinkers, like Henry David Thoreau and others.

Long ago, the US fell behind in the crypto arm’s race. It will take work to catch up, and the more radical the approach taken by the Crypto Task Force, the quicker the gap can be closed.

If it doesn’t, you can bet we crypto-anarchists will be storming the gates. 

Opinion by: Kadan Stadelmann, chief technology officer, Komodo Platform.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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MP recalls childhood abuse as he calls for law change to make domestic abuse a specific criminal offence

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MP recalls childhood abuse as he calls for law change to make domestic abuse a specific criminal offence

An MP who decided until recently to “never speak” about the abuse he suffered as a child has shared his harrowing story so that “no kid has to go through” what he did.

Josh Babarinde describes being physically abused by his mother’s former partner from the age of four, and remembers crying himself to sleep under the covers “hearing shouts, hearing screams and things smash”.

He says he became hypervigilant growing up and felt safe at school but “like he was treading on eggshells” in his own home.

The Eastbourne MP, who is also the Liberal Democrats’ justice spokesperson, says his experience has driven his politics. He is calling on the government to stop abusers “slipping through the net” and being released from prison early.

Opening up about his story in his twenties was “difficult” but looking back, Mr Babarinde says, he is “so proud of the resilience of that kid”.

The MP recently found his childhood diary containing Star Wars drawings alongside an entry he wrote from the bathroom. The diary, he recalls, wrote: “I’m really going to try to go (to the toilet) but I can’t. Oh my goodness, I’m gonna be in so much trouble, I’m going to get smacked so hard.”

Then an entry five minutes later: “I still haven’t done anything, I’m going to be in so much trouble.”

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He says reading the entry reminded him of how “helpless” he felt.

“It was mortifying,” he says. “An abuser takes away your sense of self-worth.”

Josh Babarinde speaking to Sky's Ali Fortescue.
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Mr Babarinde says he wants the government to ‘properly recognise domestic abuse crimes in the law’

The 32-year-old is calling on the government to change the law to make domestic abuse a specific criminal offence. The change would mean, he argues, abusers can no longer effectively disguise their history under other offences like assault.

He says the Ministry of Justice’s early release scheme, which has seen thousands of prisoners released early to ease overcrowding, has failed to exclude domestic abusers despite government promises because there is no formal categorisation for offenders.

It is impossible, he argues, to know exactly how many domestic abusers are in prison currently so perpetrators are “slipping through the net” on early release.

Read more from Sky News:
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January: Rising violence against women and girls

Mr Babarinde says the uncertainty means victims and survivors are not able to prepare for their abuser’s release.

He said: “They might need to move house or move their kids to a new school, shop in different places. All of these kind of things are so important, and so that’s why that commitment the government made was so important.”

A spokesperson for the Ministry of Justice said: “Our thoughts are with all victims of domestic abuse – it takes immense courage to speak out.

“We are building a justice system that puts victims first – strengthening support, increasing transparency, and giving people the confidence to come forward and be heard.”

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Another tantrum from the Labour backbenches is inevitable

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Rachel Reeves hints at tax rises in autumn budget after welfare bill U-turn

In common with many parents across the country, here’s a conversation that I have with my young daughter on a semi-regular basis (bear with me, this will take on some political relevance eventually).

Me: “So it’s 15 minutes until your bedtime, you can either have a little bit of TV or do a jigsaw, not both.”

Daughter: “Ummmm, I want to watch TV.”

Me: “That’s fine, but it’s bed after that, you can’t do a jigsaw as well.”

Fast-forward 15 minutes.

Me: “Right, TV off now please, bedtime.”

(Pause)

Daughter: “I want to do a jigsaw.”

Now replace me with the government, the TV and jigsaw options with axing welfare cuts and scrapping the two-child cap, and my daughter with rebellious backbenchers.

Politics latest: Former Labour leader calls for wealth tax on assets above £10m

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Rachel Reeves’s fiscal dilemma

That is the tension currently present between Downing Street and Labour MPs. And my initial ultimatum is the messaging being pumped out from the government this weekend.

In essence: you’ve had your welfare U-turn, so there’s no money left for the two-child cap to go as well.

As an aside – and before my inbox fills with angry emails lambasting me for using such a crude metaphor for policies that fundamentally alter the lives of some of the most vulnerable in society – yes, I hear you, and that’s part of my point.

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Welfare U-turn ‘has come at cost’

For many in Labour, this approach feels like the lives of their constituents are being used in a childish game of horse-trading.

So what can be done?

Well, the government could change the rules.

Altering the fiscal rules is – and will likely remain – an extremely unlikely solution. But as it happens, one of Labour’s proverbial grandparents has just popped round with a different suggestion.

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Welfare: ‘Didn’t get process right’ – PM

A wealth tax, Lord Neil Kinnock says, is the necessary outcome of the economic restrictions the party has placed on itself.

Ever the Labour storyteller, Lord Kinnock believes this would allow the government to craft a more compelling narrative about whose side this administration is on.

That could be valuable, given one of the big gripes from many backbench critics is that they still don’t really understand what this prime minister stands for – and by extension, what all these “difficult decisions” are in aid of.

The downside is whether it will actually raise much money.

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Is Corbyn an existential risk to Labour?

The super-rich may have lots of assets to take a slice from, but they also have expensive lawyers ready to find novel ways to keep their client’s cash away from the prying eyes of the state.

Or, of course, they could just leave – as many are doing already.

In the short term, the future is a bit easier to predict.

If Downing Street is indeed now saying there is no money to scrap the two-child cap (after heavy briefing in the opposite direction just weeks ago), an almighty tantrum from the backbenches is inevitable.

And as every parent knows, the more you give in, the harder it becomes to hold the line.

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UK restores diplomatic ties with Syria

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UK restores diplomatic ties with Syria

The UK has re-established diplomatic ties with Syria, David Lammy has said, as he made the first visit to the country by a British minister for 14 years.

The foreign secretary visited Damascus and met with interim president Ahmed al Sharaa, also the leader of the rebel group Hayat Tahrir al-Sham (HTS), and foreign minister Asaad al Shaibani.

It marks the latest diplomatic move since Bashar al Assad’s regime was toppled by rebel groups led by HTS in December.

In a statement, Mr Lammy said a “stable Syria is in the UK’s interests” and added: “I’ve seen first-hand the remarkable progress Syrians have made in rebuilding their lives and their country.

“After over a decade of conflict, there is renewed hope for the Syrian people.

“The UK is re-establishing diplomatic relations because it is in our interests to support the new government to deliver their commitment to build a stable, more secure and prosperous future for all Syrians.”

Foreign Secretary David Lammy shakes hands with Syrian interim president Ahmed al-Sharaa in Damascus. Pic: X / @DavidLammy
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Foreign Secretary David Lammy with Syria’s interim president Ahmed al Sharaa in Damascus. Pic: X / @DavidLammy

The Foreign, Commonwealth and Development Office has also announced a £94.5m support package for urgent humanitarian aid and to support the country’s long-term recovery, after a number of British sanctions against the country were lifted in April.

While HTS is still classified as a proscribed terror group, Sir Keir Starmer said last year that it could be removed from the list.

The Syrian president’s office also said on Saturday that the president and Mr Lammy discussed co-operation, as well as the latest developments in the Middle East.

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Since Assad fled Syria in December, a transitional government headed by Mr al Sharaa was announced in March and a number of western countries have restored ties.

In May, US President Donald Trump said the United States would lift long-standing sanctions on Syria and normalise relations during a speech at the US-Saudi investment conference.

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From May: Trump says US will end sanctions for Syria

He said he wanted to give the country “a chance at peace” and added: “There is a new government that will hopefully succeed.

“I say good luck, Syria. Show us something special.”

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