If you were hoping President-elect Trump would not follow through on his support of crypto, you may be disappointed. The United States is poised to become the “crypto capital of the planet” and perhaps the securities fraud capital of the world as President-elect Trump has reportedly begun evaluating pro-crypto candidates for a set of key roles in U.S. financial regulatory agencies.
The news comes as Bitcoin has soared past $86,000 following Trump’s election last week, and other coins including Dogecoin similarly reach new heights.
The Washington Post published a story today reporting that Trump aides are considering a mix of current regulators, former federal officials, and executives from the financial industry who have ties to crypto for top leadership roles. Among the most important agencies regulating crypto has been the Securities and Exchange Commission, which has targeted cryptocurrency companies in the past several years. The Post writes:
Some of the names under consideration for the SEC and other positions include Daniel Gallagher, a former SEC official now at the financial technology firm Robinhood, which offers crypto wallets as well as stock trading; and Hester Peirce and Mark Uyeda, two Republican commissioners at the agency, the people said.
A Republican donor, Gallagher previously has faulted the SEC for taking a “scorched earth” approach to crypto. Peirce and Uyeda, meanwhile, have criticized their agency for policy and enforcement actions taken under President Joe Biden. Peirce is seen as a potential interim chair of the SEC, once Trump takes over the White House, who could later lead a federal task force on crypto policy.
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
