Trump ushers in ‘new high water mark’ for deregulation
Subscribe to enjoy similar stories. WASHINGTON : President Trump is following through on his pledge to usher in one of the most sweeping deregulatory drives in modern U.S. history, moving swiftly to slash environmental rules and bank oversight, remove barriers to cryptocurrencies, and reverse the Biden administration’s restrictions on energy production.
The most aggressive plans for a red-tape rollback have come from the Environmental Protection Agency, which in a single day announced 31 actions to deregulate U.S. environmental policies, including rules for power plants, the oil-and-gas industry, electric vehicles and wastewater. Venture Global, a liquefied natural gas exporter, in early March announced an $18 billion investment in a Louisiana project, following the administration’s reversal of President Joe Biden’s freeze on approvals for LNG gas export plants, which has yielded plans for new projects and expansions.
The Trump administration is “getting the red tape, getting the federal government off the back of the worker, off the back of companies," Interior Secretary Doug Burgum said in an address to workers at the Louisiana facility. Perhaps no sector is seeing an early boost of activity more than the crypto industry, where the Trump family is emerging as a bigger player. The number of crypto deals has surged since the election.
In recent weeks, the Trump family held talks to invest in the U.S. arm of the crypto exchange Binance. Another crypto exchange, Kraken, struck a $1.5 billion deal for a U.S.
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