BCGAME - Free 5BTC Daily Bonus!Cryptocurrency exchange Coinbase's chief legal officer Paul Grewal has criticized the U.S. Securities and Exchange Commission's (SEC) stance on cryptocurrencies amid the victory of former US President Donald Trump, who defeated her opponent and current vice president, Kamala Harris, in the presidential election.
Commenting on the matter, Grewal called on the SEC to change its approach to the sector following the election of Donald Trump, who took a stance in favor of the cryptocurrency industry during the election campaign.
In a hopeful tone, Grewal believes that the SEC will now be able to adopt a regulatory structure that favors open dialogue and innovation in the sector.
“I hope @SECGov understands what happened tonight. On many, many issues, voters said loud and clear they want change. Crypto is no exception. Stop suing crypto. Start talking to crypto. Start regulating now. There’s no reason to wait.” wrote.
The cryptocurrency market is seeing several price surges today amid the political backdrop in the US. As Trump nears his return to the White House for a second term, expectations for pro-crypto policies in the US are rising in the cryptocurrency community. These expectations have been fueled by the re-elected president’s recent positive comments on crypto.
Contrary to the hostile stance of the Biden Administration, during this election Trump has shown himself to be favorable to the crypto industry, making several promises of support for the sector, including stating that he would fire Gary Gensler from the US Securities and Exchange Commission (SEC). With the promise of dismissal, a reshuffle of the industry regulator could strongly impact the future of cryptocurrencies in the US.
After Trump's Reelection, Cryptocurrency Market Explodes: Three Coins Appreciate More Than 30%
The global cryptocurrency market has seen a significant surge, reaching a market cap of $2,46 trillion, a 9,10% jump in just one day. This rise comes in the wake of Donald Trump's reelection to the US presidency, an event that appears to have injected new optimism into digital asset investors.
Among the highlights, Bitcoin surpassed the $75 mark before beginning a slight correction in gains, stabilizing around $73.800, which still represents a 7% appreciation. Bitcoin's reaction to global political events is nothing new, but the magnitude of the current response reinforces its position as the undisputed leader in the cryptocurrency market.
