President-elect Donald Trumpās team is reportedly in discussions with cryptocurrency leaders about regulatory changes that could reshape the U.S. approach to digital assets.
According to sources, Trump plans to adopt a more lenient regulatory stance to fulfill his campaign promise of making the U.S. the ācrypto capital of the planet.ā
The Washington Post recently reported that Trumpās transition team is considering various crypto-friendly candidates for key financial regulatory positions such as the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Federal Deposit Insurance Corporation (FDIC).
The names reportedly under consideration for these bodies include Daniel Gallagher, a former SEC official now at Robinhood; Hester Peirce and Mark Uyeda, current Republican agency commissioners; and Paul Atkins, a former commissioner.
Trumpās team has also reportedly engaged with crypto firms to establish a new presidential council on digital currencies. These appointments are crucial, as the leaders of various agencies under Trump will have the authority to decide whether cryptocurrency will become a more integrated and formalized element of the financial system.
Following Trumpās victory, a16z projected a regulatory environment more conducive to the cryptocurrency industry. The venture capital firm believes this shift could turn most crypto tokens into ālegitimate and lawfulā financial tools.
Meanwhile, some Democrat lawmakers warn that loosening regulations could increase risks of fraud, manipulation, and instability, citing the 2022 FTX collapse as a cautionary example.
Trumpās administration is also exploring the possibility of using executive orders to clarify federal agenciesā roles in overseeing cryptocurrency. These actions would streamline the regulatory framework, creating clearer guidelines on issues such as certain digital assets being considered securities.
Meanwhile, the SECās leadership has been a point of contention under Chairman Gary Gensler. Trumpās unit is considering replacing him, and he previously claimed he would āfireā the SEC chair after he takes over in January.
Genslerās tenure has been marked by high-profile legal battles with major crypto exchanges like Coinbase, Kraken, and Binance, which face allegations of failing to comply with federal registration laws.
āHis days are numbered,ā said Brad Garlinghouse, the CEO of Ripple, adding that the company has ābeen in touchā with the Trump transition team. He also expressed his belief that the incoming administration intends to continue focusing on the crypto sector.
Karoline Leavitt, a spokeswoman for the Trump transition, stated that the American people had reelected him by a decisive margin, giving him the mandate to fulfill his campaign promises. She added that he would deliver on those promises.
The post Trumpās Team in Talks With Crypto Leaders About Regulatory Adjustments: Report appeared first on CryptoPotato.
According to sources, Trump plans to adopt a more lenient regulatory stance to fulfill his campaign promise of making the U.S. the ācrypto capital of the planet.ā
Crypto-Friendly Appointments
The Washington Post recently reported that Trumpās transition team is considering various crypto-friendly candidates for key financial regulatory positions such as the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Federal Deposit Insurance Corporation (FDIC).
The names reportedly under consideration for these bodies include Daniel Gallagher, a former SEC official now at Robinhood; Hester Peirce and Mark Uyeda, current Republican agency commissioners; and Paul Atkins, a former commissioner.
Trumpās team has also reportedly engaged with crypto firms to establish a new presidential council on digital currencies. These appointments are crucial, as the leaders of various agencies under Trump will have the authority to decide whether cryptocurrency will become a more integrated and formalized element of the financial system.
Following Trumpās victory, a16z projected a regulatory environment more conducive to the cryptocurrency industry. The venture capital firm believes this shift could turn most crypto tokens into ālegitimate and lawfulā financial tools.
Meanwhile, some Democrat lawmakers warn that loosening regulations could increase risks of fraud, manipulation, and instability, citing the 2022 FTX collapse as a cautionary example.
Executive Orders and SEC Overhaul
Trumpās administration is also exploring the possibility of using executive orders to clarify federal agenciesā roles in overseeing cryptocurrency. These actions would streamline the regulatory framework, creating clearer guidelines on issues such as certain digital assets being considered securities.
Meanwhile, the SECās leadership has been a point of contention under Chairman Gary Gensler. Trumpās unit is considering replacing him, and he previously claimed he would āfireā the SEC chair after he takes over in January.
Genslerās tenure has been marked by high-profile legal battles with major crypto exchanges like Coinbase, Kraken, and Binance, which face allegations of failing to comply with federal registration laws.
āHis days are numbered,ā said Brad Garlinghouse, the CEO of Ripple, adding that the company has ābeen in touchā with the Trump transition team. He also expressed his belief that the incoming administration intends to continue focusing on the crypto sector.
Karoline Leavitt, a spokeswoman for the Trump transition, stated that the American people had reelected him by a decisive margin, giving him the mandate to fulfill his campaign promises. She added that he would deliver on those promises.
The post Trumpās Team in Talks With Crypto Leaders About Regulatory Adjustments: Report appeared first on CryptoPotato.
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