The post 3 obvious reasons why Trump’s crypto-friendly policies do not mean more crypto crimes appeared on BitcoinEthereumNews.com.

Trump’s crypto-friendly policies could increase crypto crimes, several news reports and analysts have raised concerns. According to a Guardian report, there are reasons to believe that there can be potential misuse of cryptocurrency by far-right extremists and terrorist groups. Trump’s crypto policy revamp has critics Recent reports cites experts who warn that loosening crypto regulations without proper oversight could facilitate crypto misuse. Especially when the Biden administration’s treatment was rather cautious. However, would Trump’s approach mean an increase in crypto-related crimes? Let’s put the regulatory framework and its ever-changing dynamics into context before arriving at any conclusion.  An alteration in the cryptocurrency regulation was a major part of Trump’s campaign. President-elect Trump has named several pro-crypto individuals who will be appointed by the administration. Additionally, crypto-skeptic SEC Chair Gary Gensler’s resignation has further reinstated the possibility of pro-crypto policies with both securities and commodities regulators expecting clearer power to supervise the sector. Here are three reasons why this route might prove beneficial contrary to popular opinion. Stronger regulation could reduce illicit activity It is too soon to say that Trump’s agenda would not strengthen crypto frameworks. While he is expected to make the policies advantageous to the sector, weak industry supervision may not be a by-product. Some analysts say that Trump’s crypto-friendly policies might lead to a convenient business environment that would inevitably promote leniency in the sector. However, an independent look at the term ‘crypto-friendly policies’ may suggest a framework of integration with the industry and effective regulation. This integration can also lead to a decline in criminal behavior. Research has time and again confirmed that potent regulatory legislation has a direct correlation with reduced illicit activities in any sector. A study by TRM Labs suggests that jurisdictions with strong crypto regulations have shown a significant decrease in illegal…

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Filed under: News - @ November 28, 2024 10:25 am