The post Trump’s Return Sparks BTC Rally; Industtry Hope for Policy Clarity appeared on BitcoinEthereumNews.com.

Jay Clayton foresees potential crypto regulations under Trump’s administration for clearer policies. Crypto markets surged after Trump’s election, with Bitcoin hitting record highs nearing $90,000. Clayton criticizes Biden-era SEC policies and sees evolving executive powers shaping future reforms. Former SEC Chairman Jay Clayton hinted that a new set of crypto regulations could soon reshape the industry. Speaking at a securities law event in New York, Clayton predicted that Congress may enact digital asset regulations during President-elect Donald Trump’s tenure. Clayton pointed out that a revised approach would likely provide much-needed clarity for the crypto industry. With the Biden administration taking an aggressive stance against crypto firms, the sector has been waiting for consistent rules. Clayton highlighted obstacles in creating crypto-specific regulations within the current system. Clayton suggested that addressing some issues at the executive and administrative levels could streamline the process, creating an environment better suited to the industry’s needs. Crypto Market Surges with ‘Trump Pump’ as Leaders Weigh In Bitcoin surged to nearly $90,000 following Trump’s election, with market participants dubbing the rally the “Trump Pump.” This growth reflects optimism about the administration’s potential to adopt crypto-friendly policies. Read also: Trump’s Pro-Crypto Shift Drives Bitcoin Surge and Memecoin Frenzy in 2024 Election Robinhood CEO Vlad Tenev and Coinbase CEO Brian Armstrong echoed similar sentiments on CNBC’s “Squawk Box.” Tenev mentioned that Trump’s administration has shown interest in positioning the U.S. as a global leader in cryptocurrency innovation. Jay Clayton Criticizes Biden’s Regulatory Policies Clayton also condemned the Biden administration’s regulatory approach, calling it harmful to public market participation. He argued that requiring extensive disclosures distracts businesses from their primary goals, labeling the SEC’s current stance as “terrible” for the market. He pointed to recent Supreme Court decisions limiting executive branch authority, stating these rulings could push regulatory agencies to…

---

Filed under: News - @ November 14, 2024 3:22 pm