CDS Crypto News Trump’s 2024 Victory: What It Means for U.S. Crypto Regulations
Crypto News

Trump’s 2024 Victory: What It Means for U.S. Crypto Regulations

10
Trump's 2024 Victory: What It Means for U.S. Crypto Regulations

Trump’s 2024 Victory: A Historic Moment for U.S. Crypto Regulations and Innovation

Trump’s 2024 Victory – The cryptocurrency industry is reacting positively to Donald Trump’s victory in the 2024 U.S. presidential election, as many believe his presidency could bring favorable regulations for the sector. Following the announcement of Trump’s win on November 6, the Republican victory has raised expectations for more pro-crypto policies, especially regarding the U.S. Securities and Exchange Commission (SEC) and broader financial regulations.

A Pro-Crypto SEC Under Trump?

Steve Milton, CEO of the decentralized finance (DeFi) app Fintopio, suggests that Trump’s administration could lead to reforms within the SEC. With a potentially more crypto-friendly SEC, Trump’s presidency may reduce regulatory resistance, creating a more favorable environment for crypto innovation. According to Milton, there’s also a possibility that the current SEC Chair, Gary Gensler, could be replaced with a pro-crypto candidate like Dan Gallagher, Robinhood’s chief legal officer.

“[Trump] has been very vocal about the need to roll back US government intervention in people’s lives. He has been pro-crypto,” Milton explained.

Historic Achievement for U.S. Crypto Regulations

Anastasija Plotnikova, CEO of Fideum, a regulatory and blockchain infrastructure firm, called Trump’s victory a “historic achievement” for U.S. crypto regulations. With the Republicans holding the majority in the Senate, the new administration is expected to create harmonized crypto regulations that could drive innovation, increase competition, and bring talent back to the U.S. crypto industry.

More Crypto ETFs Likely in the Coming Years

Experts are also hopeful that Trump’s administration will foster the growth of crypto-based exchange-traded funds (ETFs). According to Edward Wilson from Nansen, there is a chance that the first staked Ether ETF could be approved under Trump’s presidency. This would fully leverage ETH as an asset, making it an even more attractive investment option.

While the U.S. may lead in crypto regulation under Trump, some European leaders, including Charles d’Haussy from the dYdX Foundation, believe Europe could take the lead in launching the first Ether staking ETF.

Trump's 2024 Victory: What It Means for U.S. Crypto Regulations

Leave a comment

Leave a Reply

Related Articles

Retail Investors Return to Crypto: Bitcoin Hits All-Time High as Trump Victory Fuels Cryptocurrency Momentum

Retail Investors Return to Crypto: Bitcoin Hits All-Time High as Trump Victory...

Ethereum Foundation Treasury Strategy: $788.7M in ETH Holdings as of October 2024

Ethereum Foundation Treasury Strategy: $788.7M in ETH Holdings as of October 2024

Tether Financing Expands: $45 Million Crude Oil Deal Completed

Tether finances a $45M crude oil deal, expanding its role in global...

Memecoin Mania: Cobie Burns UPONLY Tokens, Sparking Debate in the Crypto Community

Cobie, a well-known crypto trader, burned 600 million UPONLY memecoin tokens, originally...