BCGAME - Free 5BTC Daily Bonus!- Trump's triumph could favor pro-crypto regulation.
- US autonomy in cryptocurrencies emphasized by Trump.
- Possible progress in legislation on stablecoins and cryptocurrencies.
The possibility of Donald Trump resuming the presidency of the United States has stirred expectations in the cryptocurrency market. Analysts indicate that a Trump victory, combined with the potential Republican dominance in the Senate, could transform the Securities and Exchange Commission (SEC) and the Senate Banking Committee into bodies more receptive to cryptocurrencies, paving the way for a new regulatory regime more favorable to the sector.
During his participation in the Bitcoin event 2024, Trump outlined his bullish outlook for the future of cryptocurrencies in the US. “Bitcoin, the primary cryptocurrency, will likely surpass gold,” he said, adding that he aims to make the US the cryptocurrency capital of the world.
Trump also promised to fire Gary Gensler on his first day in office and to advocate for self-custody of bitcoin, in addition to appointing a presidential advisory board focused on bitcoin and cryptocurrencies. “If cryptocurrency is going to define the future, it will be mined, minted and made in America. If Bitcoin is going to go to the moon, as they say, I want America to send it there,” Trump said, also guaranteeing that under his administration, “there will never be a CBDC as long as I am president” and that the US will hold “100% of all Bitcoin that the United States government currently holds or that we acquire in the future.”
This scenario is seen as a significant shift that has yet to be fully absorbed by the market, according to industry analyst Bernstein. He suggests that this transformation could benefit cryptocurrencies enormously, especially with the possible acceleration of stablecoin regulation and market structures. Leading stablecoin issuance companies like Circle and Paxos, as well as major U.S. exchanges and brokers/dealers, could be the biggest beneficiaries.
Bernstein’s report also points to future clarity in ongoing litigation between the SEC and major crypto market players such as Coinbase, Robinhood, Binance, and other DeFi and stablecoin platforms. This clarity on what exactly constitutes a digital asset versus a security could facilitate more progressive registrations of digital asset securities with the SEC, bringing much-needed regulatory certainty to the market.
Another expectation is the possible reclassification of the most significant crypto assets, reducing the uncertainty that currently weighs on them. In addition, it is expected that asset managers may soon launch more ETF products based on cryptocurrencies.
