A team 100% in charge of developing the crypto ecosystem at the White House? This is what Donald Trump and his team would like, particularly in order to ensure discussions with Congress, the SEC and the CFTC.
Cryptocurrencies will soon have their place in the White House
Since Donald Trump's victory in the last American elections, not a day seems to go by without positive news supporting the cryptocurrency market.
According to exclusive information obtained by our colleagues at Bloomberg, the team of the future president of the United States would consider creating a position entirely devoted to the regulation and policy of cryptocurrencies at the White House.
This would be a historic firstno such position currently exists. Although the information is a priori confidential, since it was obtained via sources who wished to preserve their anonymity, it makes sense for many reasons, considering Donald Trump's position regarding the blockchain sector.
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In recent days, Donald Trump and his team have had the opportunity to speak with senior figures in the crypto industry, including Brian Armstrong, the CEO of Coinbase, and Brian Brooks, the former CEO of Binance.US. The latter would also be tipped to obtain the role of president of the Securities and Exchange Commission (SEC), among other possibilities.
Still according to Bloomberg, this position at the White House would lead to the establishment of a small team responsible for coordinating exchanges between Donald Trump, Congress and federal agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
A welcome coordination, the SEC being an authority on the American crypto market almost on its own, to the great damnation of innovation.
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The election of Donald Trump pushes the price of Bitcoin upwards
Since the election of Donald Trump, the price of Bitcoin has exploded upward, surpassing its previous ATH almost every day. And for good reason, the future president of the United States has multiplied the promises aimed at promoting cryptoto the point of asserting that under his mandate, the country would become “the crypto capital of the world”.
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An initiative which would result in projects such as the establishment of a national strategic Bitcoin reserve, the relaxation of regulations relating to cryptocurrencies, or even the development of BTC mining infrastructures.
Recently, we learned that Trump Media and Technology Group, one of Donald Trump's companies, was considering acquiring Bakkt, a company specializing in crypto. Bakkt's share price tripled following the news, from $11 to $33.
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Source: Bloomberg
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