What will and should crypto regulation look like under Trump? – Stakeholders weigh in
The post What will and should crypto regulation look like under Trump? – Stakeholders weigh in appeared on BitcoinEthereumNews.com.
In just a matter of weeks, Donald Trump is about to be inaugurated as the 47th President of the United States of America. At first glance, after his victory in the November elections, everything appears to be in order in the cryptocurrency industry, but is it? The 2024 US presidential election is widely regarded as a pivotal moment for the crypto industry. Economists believe part of the reason Trump won his ticket back to the Oval Office is because of his “loud” pro-crypto-stance. Well, in all honesty, he had the support of over 290 pro-crypto lawmakers in Congress; it was highly unlikely he would lose. Trump promised to position the United States as the global hub for crypto, so the sector is poised for a potential renaissance. According to Coinfund President Chris Perkins, the election signaled a turning point for the crypto market, which has long grappled with regulatory uncertainty. Contributing to a Financial Times article, Perkins argues that this shift offers the US an opportunity to solidify its leadership in emerging technologies like blockchain, artificial intelligence, and decentralized finance (DeFi). However, he warned the community that optimism hinges on whether the post-election enthusiasm translates into actionable, thoughtful policies. Out with the old, in with the new? Under the Biden administration, crypto faced what many described as “regulation by enforcement,” where agencies stretched decades-old laws to oversee the nascent industry. JUST IN: 🇺🇸 Donald Trump says he will “end Joe Biden’s war on crypto, and ensure that the future of crypto and the future of #Bitcoin will be made in America, with a lot of it being done right here in Florida.” pic.twitter.com/qstVuzbOAI — DΛVID (@DavidShares) June 15, 2024 Critics insist that this approach blurred regulatory boundaries, wasted resources, and imposed significant costs on American companies, estimated at over $400…
Filed under: News - @ December 16, 2024 1:25 pm