The post Cathie Wood Backs Trump’s Regulatory Changes for Crypto and AI appeared on BitcoinEthereumNews.com.

Cathie Wood supports regulatory reforms under Trump’s potential return to boost crypto and AI innovation in the U.S. Trump warns BRICS nations against a new currency, threatening tariffs as BRICS seek reduced reliance on the U.S. dollar. Cathie Wood, founder of Ark Investment Management LLC, has expressed her support for regulation changes in crypto and artificial intelligence (AI) in the event that Donald Trump is re-elected president of the United States, according to Bloomberg. According to Wood, the strict rules of current American officials have hampered the innovation space in these industries, and she believes that such legislative changes could energize it. Her remarks coincide with growing worries about the United States losing its competitive edge in the crypto market because of Chairman Gary Gensler of the U.S. Securities and Exchange Commission’s (SEC) strong enforcement approach. Trump’s Policies Could Revitalize U.S. Leadership in Tech and Crypto  Wood contends that the digital asset sector will find much-needed relief under the regulatory clarity and pro-innovation policies she expects under a Trump presidency. She points out that many crypto-oriented individuals and companies have been compelled to relocate operations abroad by the aggressive policies of the SEC, therefore resulting in a brain drain undermining U.S. leadership in the industry. She also underlines how a change in leadership at regulatory agencies such as the Federal Trade Commission (FTC) and the SEC can provide a more suitable climate for developing technologies including blockchain, robots, and artificial intelligence. Furthermore, Wood anticipates that Trump’s government will prioritize advancements in artificial intelligence and other innovative technologies, thereby creating opportunities for economic and productivity growth. She sees this as an opportunity for the United States to confirm its leadership in technical innovation worldwide. Critics warn, meanwhile, that too much regulation might expose the financial system to further risks, particularly as…

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Filed under: News - @ December 2, 2024 11:22 am