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The president-elect of the United States, Donald Trump, is not content with being a simple player in the Cryptocurrency market. With a bold vision and innovative strategies, it seeks to become the engine that drives this industry to a new level. What plans do you have in mind to revolutionize the crypto world? Find out how he plans to make his mark on the future of finance.
Indeed, by presenting his appointments, Trump is marking a clear distance from the regulatory policies imposed by Gary Gensler at the SEC. Its more flexible vision promises a new breath for the crypto industry.
As a result, all of this has had a huge impact, not only on the price of Bitcoin, which hit as high as $100,000 on Wednesday in anticipation of a crypto-friendly administration, but also on the future of the digital economy as a whole.
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In this regard, Gene Kimmelman, a former antitrust official at the Department of Justice, said: “This is largely a kind of industrial policy, with some areas receiving deeper scrutiny and others a lighter touch based on a particular view of how direct the market.
Donald Trump reinforces his crypto team with key allies
Donald Trump, redoubling his commitment to cryptocurrencies, continues with the appointments of what will be his new cabinet when he returns to the White House in January. Recall that, he promised to usher in a wave of pro-cryptocurrency policies, including the creation of a national strategic Bitcoin reserve and the retention of Bitcoins that the government confiscates from criminals instead of auctioning them.
Specifically, the cryptocurrency and technology community finally have some clarity on who they will potentially answer to over the next four years:
- David Sacks, former COO of PayPal, “AI and cryptocurrency czar.” He will direct the Administration’s policies on Artificial Intelligence and cryptocurrencies. He will also lead the Presidential Council of Science and Technology Advisors.
- Paul Atkins, will govern the Securities and Exchange Commission (SEC). He could help shape key regulations for an industry that Trump has avidly courted, if confirmed by the Senate.
- Gail Slater to head the Justice Department’s antitrust division. If confirmed by the Senate, Slater will replace Jonathan Kanter and handle the various antitrust lawsuits and investigations already underway against the tech industry and other sectors.
Atkins and Slater: a duo that promises to revolutionize regulation in the United States
By the way, regarding the appointment of Paul Atkins, Chris Dixon of a16z wrote: «Congratulations to Paul Atkins on his appointment as chairman of the SEC. “We are very optimistic about the opportunities under Mr. Atkins’ leadership to accelerate progress and allow crypto to thrive in the US.”
Congratulations to Paul Atkins on his nomination as SEC Chair. We are very optimistic about the opportunities under Mr. Atkin’s leadership to accelerate progress and allow crypto to thrive in the US 🇺🇸
— cdixon.eth (@cdixon) December 4, 2024
As relevant information, Gail Slater would inherit two ongoing monopoly cases against Google, a monopoly case against Apple, a monopoly case against LiveNation, the parent company of Ticketmaster, and a monopoly case against Visa.
In closing, with these appointments, Donald Trump seems to be giving back to his main benefactors in Silicon Valley. Their political decisions, which favor less regulation of cryptocurrencies and greater scrutiny of technology monopolies, directly reflect the interests of those who have financed their rise.
I say goodbye with this phrase from Vitalik Buterin: “Regulation, far from being a threat, can be the catalyst that drives cryptocurrencies towards their true potential, benefiting millions of people around the world.”
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