Read more at source.
Read more at source.
On Trump's second day in office, the Securities and Exchange Commission (SEC) set up a crypto task force. This marks a departure from the previous administration's approach, which was characterized by numerous lawsuits against crypto firms. The newly established task force, under new leadership, is expected to develop a clear and comprehensive regulatory framework for crypto assets.
Trump's crypto-friendly stance was further underscored by his decision to grant clemency to Ross Ulbricht, who was serving a life sentence for crimes committed while operating the Silk Road, a darknet marketplace that was among the first websites to accept Bitcoin as payment. Ulbricht's release has been celebrated in crypto circles, where he is seen as a martyr for the cause of cryptocurrency.
Trump's pro-crypto initiatives are expected to have wide-ranging implications for the crypto industry, both in the US and globally. By integrating crypto into the US national treasury and reforming financial regulations, Trump is setting the stage for a new golden era for the crypto industry. His actions are also expected to influence crypto regulation and adoption in other countries, given America's role as a global standard-setter.
Our technology is very powerful and transformative. We need to land it in different societies, says Joseph Lubin, cofounder of Ethereum and chief executive at software company Consensys. And America is a standard-setter for the rest of the world.
