Trump, Atkins, and a new SEC – How 2025 could be defining year for Bitcoin and crypto
The post Trump, Atkins, and a new SEC – How 2025 could be defining year for Bitcoin and crypto appeared on BitcoinEthereumNews.com.
Gary Gensler to step down as SEC Chair soon Paul Atkins’ appointment as SEC Chair and David Sacks as crypto czar could change things for good The year 2024 has been a landmark year for the cryptocurrency industry, marked by groundbreaking developments such as the introduction of Spot Bitcoin [BTC] and Ethereum [ETH] ETFs, Bitcoin’s historic surge past $100k, and the election of Donald Trump as a crypto-supportive president. That’s not all either, with the year also noting the highly anticipated fourth Bitcoin halving. SEC overview – 2024 snapshot However, this era of milestones has also been juxtaposed with heightened regulatory scrutiny. Especially as numerous crypto exchanges found themselves entangled in legal disputes with the U.S. Securities and Exchange Commission (SEC). While some legal battles, such as those involving Ripple Labs and Coinbase, began as early as 2020 or 2023, others emerged in full force in 2024. Companies like Uniswap, Ethereum, ConsenSys, Robinhood, and Crypto.com were among those that reportedly received Wells Notices from the U.S. Securities and Exchange Commission (SEC). These actions sparked widespread debate within the crypto community, with many calling for SEC Chair Gary Gensler’s resignation. Role of Gensler in Biden’s political exit Concerns mounted that Gensler’s aggressive crypto crackdown could potentially impact President Joe Biden’s administration, fueling fears of broader political and economic repercussions. However, despite facing significant criticism, Gensler remained steadfast in his position on cryptocurrency and stated, “Crypto is a small piece of our overall markets. But, it’s an outsized piece of the scams and frauds and problems in the markets.” The narrative, however, shifted during Donald Trump’s presidential campaign, as he pledged to dismiss Gensler immediately upon taking office. “I didn’t know he was that unpopular. Let me say it again, on day 1, I’ll fire Gary Gensler.” Trump’s pro-crypto initiatives quickly garnered…
Filed under: News - @ January 3, 2025 4:26 pm