Announcements from the SEC or reports from major financial news outlets

Trump Administration to Ease Crypto Regulations, Appoint Crypto Czar Amid Industry Input

Dec 2, 2024, 06:52 AM

The incoming Trump administration is poised to significantly alter the regulatory landscape for cryptocurrencies in the U.S. President-elect Donald Trump has made it a campaign priority to position America as a global leader in digital currencies, potentially leading to the withdrawal of lawsuits and regulatory actions initiated by the Biden administration against Bitcoin and other cryptocurrencies. Key figures in Trump's lineup, including Senator JD Vance with substantial Bitcoin holdings worth over $250,000 and Tulsi Gabbard with early investments in Ethereum and Litecoin since 2017, indicate a pro-crypto stance. The Wall Street Journal suggests that the SEC might ease its legal battles against crypto exchanges like Binance, Coinbase, and Kraken. Trump's Commerce nominee, Howard Lutnick, known for his connections to Tether, further underscores the administration's interest in digital assets. There are also plans to appoint a 'Crypto Czar' and seek industry input for the SEC Chair position, signaling a shift towards a more favorable environment for cryptocurrency innovation.