The Trump administration plans to delay--and possibly scrap--an Obama-era rule that would allow foreign entrepreneurs to work in the U.S., according to a notice published in the Federal Register on Tuesday. Trump's decision further implied that the rule may ultimately be eliminated altogether.

The International Entrepreneur Rule would allow established founders who already have experience and capital to build their companies in the U.S. for 30 months without a visa. The rule, which was originally scheduled to go into effect July 17, was crafted by former President Barack Obama. It was approved by the Department of Homeland Security days before he left office.

In the notice, the Trump administration says it will postpone the implementation until March 14, 2018. The decision was part of government-wide review of federal immigration programs. "During the delay, DHS will be soliciting public comment on a proposal to withdraw to the rule, and individuals will not be able to apply for parole under the International Entrepreneur Rule," a spokesman told Recode.

In January, Axios reported that President Trump was planning to kill the program, leaving many supporters fearful that this delay may be the beginning of the end. Silicon Valley heavyweights have been advocating for the rule, adding that there's no straightforward path for an international entrepreneur to live in the U.S. while building a company., the Mark Zuckerberg-backed immigration advocacy group, called the delay "a setback for the United States in the global race for talent."

"Members of the tech and business communities made their voices heard on the necessity of the IER, and we are dismayed that the Administration has chosen to ignore the advice of so many job creators," Todd Schulte,'s president, said in a statement.