Trump Might Move Crypto Oversight Away From The SEC: Reports
Trump Might Move Crypto Oversight Away From The SEC: Reports . (MENAFN - Yolo Wire) Media reports say that the incoming administration of U.S. president-elect Donald Trump might shift %Cryptocurrency  regulation away from the U.S. Securities and Exchange ...
América - MenaFN
(MENAFN- Yolo Wire) reports say that the incoming administration of U.S. president-elect Donald Trump might shift %Cryptocurrency regulation away from the U.S. Securities and Exchange Commission (SEC).

Instead, Trump might task the Commodity Futures Trading Commission (CFTC) with regulatory oversight for crypto.

Such a change would expand the CFTC’s authority over the $3.2 trillion U.S. digital asset and take responsibility for away from the SEC, which has sought to crackdown on the sector.

Current SEC Chair Gary Gensler has faced criticism for classifying most cryptocurrencies, except %Bitcoin (CRYPTO: $BTC), as securities and treating them like stocks when it comes to regulation.

On the campaign trail this summer, Trump promised to create a more crypto-friendly regulatory framework and has said he wants to make the U.S. the world’s “crypto capital.”

The Trump administration reportedly plans to give the CFTC broader authority to oversee digital assets, including regulating exchanges and spot markets for Bitcoin, %Ethereum (CRYPTO: $ETH), and other digital coins and tokens.

Former CFTC Chair Chris Giancarlo is reportedly being considered for a new “Crypto Czar” role within the Trump administration.

The Crypto Czar would develop policies and lead an advisory council related to cryptocurrencies.

Trump’s transition team is also reportedly exploring the creation of a Strategic Bitcoin Reserve to address inflation and economic uncertainty, an idea that’s supported by asset managers such as %BlackRock (NYSE: $BLK).

The price of Bitcoin is currently at $95,700 U.S., having more than doubled this year.
Jordania
https://menafn.com/images/Menafn_SmallLogo.jpg
https://menafn.com/1108937415/Trump-Might-Move-Crypto-Oversight-Away-From-The-SEC-Reports
2024-11-28
rss
(MENAFN - Yolo Wire) Media reports say that the incoming administration of U.S. president-elect Donald Trump might shift %Cryptocurrency  regulation away from the U.S. Securities and Exchange ...
Trump Might Move Crypto Oversight Away From The SEC: Reports