Will Trump Reshape Cryptocurrency Regulations Soon?
The post Will Trump Reshape Cryptocurrency Regulations Soon? appeared on BitcoinEthereumNews.com.
Circle’s CEO, Jeremy Allaire, predicts that President Donald Trump may soon issue executive orders that would authorize banks to manage and trade cryptocurrencies as well as provide related services to affluent clientele. This potential shift could have profound implications for the cryptocurrency industry within the United States. What Executive Actions Could Trump Take?How Will Trump’s Policies Affect the Market? What Executive Actions Could Trump Take? In a recent discussion with Reuters, Allaire conveyed his belief that Trump is likely to enact significant regulatory changes beneficial to the crypto sector. He particularly mentioned the possibility of overturning the SEC’s SAB 121 guidance, which currently requires companies to categorize certain crypto assets as liabilities. How Will Trump’s Policies Affect the Market? During his earlier term, Trump expressed skepticism towards cryptocurrencies, but his current stance appears more supportive as he aims to fortify the crypto asset market leading up to the 2024 elections. He has promised to eliminate barriers preventing investors from utilizing digital currencies and to halt the liquidation of Bitcoin seized by the U.S. government. Jeremy Allaire has emphasized the following points regarding potential changes: Trump’s actions could significantly amend the regulatory landscape for cryptocurrencies. Circle’s financial support of $1 million to Trump’s inauguration signifies alignment with his administration. A shift in policy may increase market liquidity and draw interest from institutional investors. If banks are permitted to actively trade cryptocurrencies, it could lead to broader acceptance and innovative financial solutions. However, these regulatory adjustments must be considered carefully to ensure market stability and protect investors. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/will-trump-reshape-cryptocurrency-regulations-soon
Filed under: News - @ January 23, 2025 7:17 am