CoinDesk Podcast Network U.S. Court Strikes Trump’s Tariffs, Pakistan Announces Bitcoin Reserve | COINDESK DAILY
May 29, 2025
A U.S. court recently struck down tariffs imposed by former President Trump, sparking positive reactions in the crypto market. In a groundbreaking move, Pakistan plans to create a strategic Bitcoin reserve, aiming to embrace digital currency. Meanwhile, New York City Mayor Eric Adams advocates for reducing regulatory barriers for crypto businesses, highlighting the importance of financial inclusion and innovation in this evolving landscape.
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Court Ruling Boosts Bitcoin, Signals Shift
- A U.S. court invalidated Trump's broad-based tariffs, boosting Bitcoin and stock futures.
- Large Bitcoin holders have shifted to selling despite prices near record highs, indicating selling pressure.
Pakistan Creates Bitcoin Reserve
- Pakistan announced a strategic Bitcoin reserve, treating holdings as a long-term asset.
- They will allocate electricity for Bitcoin mining and AI data centers to enhance crypto integration and financial inclusion.
End BitLicense, Use Bitcoin Bonds
- New York City Mayor Eric Adams calls to end the BitLicense to attract crypto businesses back.
- He proposed Bitcoin-backed municipal bonds to raise capital and offer tax-advantaged investments.